General Mills, Inc. (NYSE:GIS) Shares Sold by Beaton Management Co. Inc.

Beaton Management Co. Inc. cut its stake in General Mills, Inc. (NYSE:GIS) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,754 shares of the company’s stock after selling 550 shares during the period. Beaton Management Co. Inc.’s holdings in General Mills were worth $617,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in 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 worth $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. Fortis Group Advisors LLC raised its holdings in shares of General Mills by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares during the period. RFP Financial Group LLC boosted its position in 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 acquiring an additional 173 shares during the period. Finally, Perkins Coie Trust Co raised its holdings in shares of General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of GIS stock opened at $74.90 on Friday. 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 business’s fifty day moving average is $69.69 and its 200 day moving average is $68.44. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 3.86 and a beta of 0.10. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Research analysts expect that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently declared 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 was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.20%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is presently 55.68%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GIS shares. Mizuho cut their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday. Citigroup boosted their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, The Goldman Sachs Group assumed 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 research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target 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.