General Mills, Inc. (NYSE:GIS) Stake Cut by Evergreen Capital Management LLC

Evergreen Capital Management LLC decreased its holdings in General Mills, Inc. (NYSE:GIS) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,303 shares of the company’s stock after selling 3,939 shares during the period. Evergreen Capital Management LLC’s holdings in General Mills were worth $12,228,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC lifted its position in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the last quarter. RFP Financial Group LLC raised its stake in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Perkins Coie Trust Co grew its stake in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC raised its position in General Mills by 65.5% during the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after acquiring an additional 180 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.5 %

GIS opened at $74.51 on Monday. The firm has a market cap of $41.59 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 3.86 and a beta of 0.10. 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’s 50-day simple moving average is $69.92 and its 200-day simple moving average is $68.57. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $75.90.

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

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.60 dividend. 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 3.22%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GIS. Evercore ISI dropped their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. 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 report on Thursday. Finally, The Goldman Sachs Group initiated coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $72.73.

General Mills Company 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.