Lombard Odier Asset Management Europe Ltd Sells 6,086 Shares of General Mills, Inc. (NYSE:GIS)

Lombard Odier Asset Management Europe Ltd cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,806 shares of the company’s stock after selling 6,086 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in General Mills were worth $2,645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arkadios Wealth Advisors increased its holdings in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after acquiring an additional 10,765 shares during the period. Optimist Retirement Group LLC purchased a new stake in shares of General Mills in the fourth quarter worth $1,171,000. State Board of Administration of Florida Retirement System raised its position in shares of General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after buying an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after buying an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA grew its position in General Mills by 164.1% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock worth $1,307,000 after buying an additional 11,298 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GIS shares. Citigroup lifted their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Stifel Nicolaus increased their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Bank of America raised their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company upped their target price on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. One research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.73.

General Mills Stock Down 0.4 %

Shares of General Mills stock opened at $74.19 on Tuesday. 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, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. The company’s 50 day moving average price is $70.14 and its 200-day moving average price is $68.63. The stock has a market capitalization of $41.41 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 3.86 and a beta of 0.10.

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

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.24%. General Mills’s dividend 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.