Waters Parkerson & CO. LLC Sells 3,605 Shares of General Mills, Inc. (NYSE:GIS)

Waters Parkerson & CO. LLC lessened its position in shares of General Mills, Inc. (NYSE:GIS) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 255,856 shares of the company’s stock after selling 3,605 shares during the period. Waters Parkerson & CO. LLC’s holdings in General Mills were worth $16,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GIS. Arkadios Wealth Advisors increased its holdings in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares during the period. Optimist Retirement Group LLC purchased a new position in General Mills during the fourth quarter worth about $1,171,000. State Board of Administration of Florida Retirement System increased its stake in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA boosted its position in shares of General Mills by 164.1% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,298 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Down 0.1 %

NYSE:GIS opened at $74.90 on Friday. 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. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average of $69.69 and a 200 day moving average of $68.44. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, research analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.60 dividend. 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%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho decreased their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Piper Sandler lifted their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company increased their target price on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, Barclays dropped their price target on 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.93.

About General Mills

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.