First City Capital Management Inc. Trims Stake in General Mills, Inc. (NYSE:GIS)

First City Capital Management Inc. reduced its stake in General Mills, Inc. (NYSE:GIS) by 25.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,492 shares of the company’s stock after selling 1,210 shares during the quarter. First City Capital Management Inc.’s holdings in General Mills were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GIS. 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 lifted its stake in General Mills by 409.8% during the first 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 boosted its holdings in shares of General Mills by 66.3% in 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 raised its holdings in shares of General Mills by 769.2% during 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 lifted its position in General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

GIS stock opened at $74.51 on Friday. The firm has a 50-day moving average of $69.92 and a 200 day moving average of $68.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The company has a market cap of $41.59 billion, a P/E ratio of 17.29, a PEG ratio of 3.86 and a beta of 0.10. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 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 return on equity of 26.56% and a net margin of 12.57%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. On average, sell-side analysts forecast that General Mills, Inc. will post 4.5 EPS for the current 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 given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This is an increase 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 is currently 55.68%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Barclays boosted their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday. Citigroup raised their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Evercore ISI dropped their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.