Richardson Financial Services Inc. Sells 174 Shares of General Mills, Inc. (NYSE:GIS)

Richardson Financial Services Inc. lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,315 shares of the company’s stock after selling 174 shares during the quarter. Richardson Financial Services Inc.’s holdings in General Mills were worth $146,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Marathon Trading Investment Management LLC bought a new position in shares of General Mills during the second quarter worth $253,000. Sienna Gestion lifted its stake in General Mills by 1.0% in the 2nd quarter. Sienna Gestion now owns 74,882 shares of the company’s stock worth $4,735,000 after purchasing an additional 757 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of General Mills by 0.7% during the 2nd quarter. Hsbc Holdings PLC now owns 1,829,545 shares of the company’s stock valued at $115,881,000 after purchasing an additional 12,961 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of General Mills by 2.9% during the second quarter. Elo Mutual Pension Insurance Co now owns 48,395 shares of the company’s stock valued at $3,061,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of General Mills by 0.5% in the second quarter. Blair William & Co. IL now owns 131,257 shares of the company’s stock worth $8,303,000 after purchasing an additional 632 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of GIS stock opened at $74.90 on Friday. The stock has a 50 day moving average price of $69.69 and a 200 day moving average price of $68.44. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The firm has a market capitalization of $41.81 billion, a P/E ratio of 17.38, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. As a group, sell-side analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.20%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analysts Set New Price Targets

Several research firms have weighed in on GIS. Mizuho cut their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Piper Sandler boosted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday. Barclays dropped their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, Evercore ISI decreased their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.93.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.