Gabelli Funds LLC Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Gabelli Funds LLC reduced its position in General Mills, Inc. (NYSE:GIS) by 11.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,900 shares of the company’s stock after selling 33,000 shares during the period. Gabelli Funds LLC’s holdings in General Mills were worth $15,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Fidelis Capital Partners LLC increased its holdings in General Mills by 21.7% during the 2nd quarter. Fidelis Capital Partners LLC now owns 5,139 shares of the company’s stock valued at $354,000 after acquiring an additional 916 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of General Mills by 11.5% in the second quarter. Mount Yale Investment Advisors LLC now owns 7,258 shares of the company’s stock valued at $459,000 after purchasing an additional 746 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of General Mills during the 2nd quarter worth approximately $2,397,000. ProShare Advisors LLC increased its stake in shares of General Mills by 0.6% during the 2nd quarter. ProShare Advisors LLC now owns 92,171 shares of the company’s stock worth $5,831,000 after purchasing an additional 574 shares in the last quarter. Finally, Legacy Financial Advisors Inc. acquired a new position in shares of General Mills during the 2nd quarter worth approximately $263,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GIS shares. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Evercore ISI decreased their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. cut their target price 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. Wells Fargo & Company raised their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Finally, TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target of $72.73.

General Mills Price Performance

General Mills stock opened at $74.19 on Tuesday. The firm has a fifty day moving average of $70.14 and a 200-day moving average of $68.63. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. 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 firm has a market capitalization of $41.41 billion, a P/E ratio of 17.21, a PEG 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 for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the company earned $1.09 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, analysts predict 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. Stockholders of record on Wednesday, July 10th were paid a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.24%. 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%.

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.