General Mills, Inc. (NYSE:GIS) Stake Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,918 shares of the company’s stock after selling 6,431 shares during the period. Edgestream Partners L.P.’s holdings in General Mills were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GIS. Aveo Capital Partners LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $213,000. Brown Advisory Inc. raised its holdings in shares of General Mills by 4.2% during the fourth quarter. Brown Advisory Inc. now owns 23,449 shares of the company’s stock valued at $1,527,000 after buying an additional 949 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of General Mills by 45.3% during the fourth quarter. Clearbridge Investments LLC now owns 20,055 shares of the company’s stock valued at $1,306,000 after acquiring an additional 6,255 shares during the period. Corient Private Wealth LLC increased its stake in shares of General Mills by 16.0% during the fourth quarter. Corient Private Wealth LLC now owns 286,711 shares of the company’s stock valued at $18,676,000 after acquiring an additional 39,532 shares during the period. Finally, SageView Advisory Group LLC increased its stake in shares of General Mills by 24.0% during the fourth quarter. SageView Advisory Group LLC now owns 15,615 shares of the company’s stock valued at $1,020,000 after acquiring an additional 3,020 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.5 %

NYSE GIS opened at $74.51 on Friday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month 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 stock 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 firm’s 50 day moving average price is $69.92 and its two-hundred day moving average price is $68.51.

General Mills (NYSE:GIS) last posted its quarterly earnings data 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. 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 analysts’ expectations of $4.80 billion. During the same period in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is 55.68%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. TD Cowen raised their price objective on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday. Barclays raised their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One 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 currently has a consensus 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.