MJP Associates Inc. ADV Trims Stake in General Mills, Inc. (NYSE:GIS)

MJP Associates Inc. ADV cut its position in General Mills, Inc. (NYSE:GIS) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,797 shares of the company’s stock after selling 602 shares during the quarter. MJP Associates Inc. ADV’s holdings in General Mills were worth $521,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GIS. Clarius Group LLC boosted its holdings in shares of General Mills by 1.6% in the first quarter. Clarius Group LLC now owns 7,437 shares of the company’s stock valued at $636,000 after acquiring an additional 115 shares during the period. Evoke Wealth LLC boosted its stake in General Mills by 2.0% during the 1st quarter. Evoke Wealth LLC now owns 5,737 shares of the company’s stock worth $490,000 after purchasing an additional 115 shares during the period. Colonial Trust Advisors grew its position in General Mills by 1.6% during the 1st quarter. Colonial Trust Advisors now owns 8,142 shares of the company’s stock worth $696,000 after purchasing an additional 126 shares during the last quarter. IHT Wealth Management LLC increased its stake in General Mills by 2.2% in the first quarter. IHT Wealth Management LLC now owns 5,817 shares of the company’s stock valued at $497,000 after purchasing an additional 126 shares during the period. Finally, Wayfinding Financial LLC raised its holdings in shares of General Mills by 4.3% in the first quarter. Wayfinding Financial LLC now owns 3,159 shares of the company’s stock valued at $269,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 75.31% of the company’s stock.

General Mills Price Performance

NYSE GIS traded down $0.24 during mid-day trading on Monday, hitting $65.61. The stock had a trading volume of 1,435,592 shares, compared to its average volume of 3,497,733. The company has a 50 day simple moving average of $71.24 and a 200 day simple moving average of $79.46. The company has a market cap of $38.13 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 2.21 and a beta of 0.24. General Mills, Inc. has a 52-week low of $64.70 and a 52-week high of $90.89. The company has a quick ratio of 0.40, a current ratio of 0.69 and a debt-to-equity ratio of 0.93.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. General Mills had a return on equity of 24.47% and a net margin of 12.91%. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.48 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $2.36 dividend on an annualized basis and a yield of 3.60%. This is a boost from General Mills’s previous quarterly dividend of $0.54. General Mills’s payout ratio is presently 54.76%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GIS shares. 888 reissued a “maintains” rating on shares of General Mills in a report on Thursday, June 29th. Wells Fargo & Company lowered their target price on General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 7th. Argus upgraded General Mills from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Friday, July 14th. TD Cowen began coverage on shares of General Mills in a research report on Wednesday, September 13th. They issued a “market perform” rating and a $70.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $82.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.21.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.