AGF Management Ltd. Sells 2,311 Shares of General Mills, Inc. (NYSE:GIS)

AGF Management Ltd. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,155 shares of the company’s stock after selling 2,311 shares during the period. AGF Management Ltd.’s holdings in General Mills were worth $2,224,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, June 27th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Evercore ISI cut their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, General Mills has an average rating of “Hold” and an average price target of $70.07.

General Mills Stock Performance

Shares of GIS opened at $73.71 on Friday. General Mills, Inc. has a one year low of $60.33 and a one year high of $75.90. The stock has a market cap of $41.03 billion, a P/E ratio of 17.10, a P/E/G ratio of 3.86 and a beta of 0.10. The stock has a 50-day moving average of $68.73 and a two-hundred day moving average of $68.18. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. As a group, research analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.60 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date was Wednesday, July 10th. General Mills’s payout ratio is presently 55.68%.

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.