Capital Group Investment Management PTE. LTD. Sells 627 Shares of General Mills, Inc. (NYSE:GIS)

Capital Group Investment Management PTE. LTD. cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,085 shares of the company’s stock after selling 627 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in General Mills were worth $286,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. MeadowBrook Investment Advisors LLC bought a new position in General Mills in the 4th quarter valued at approximately $27,000. Rise Advisors LLC boosted its holdings 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 acquiring an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. RFP Financial Group LLC raised its position in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co grew its holdings in shares of General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

General Mills Stock Up 0.7 %

Shares of NYSE:GIS traded up $0.49 during trading on Friday, reaching $66.32. 2,547,732 shares of the stock were exchanged, compared to its average volume of 4,089,879. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $76.15. The stock has a fifty day moving average of $65.93 and a two-hundred day moving average of $66.50. 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 firm has a market cap of $37.02 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 3.71 and a beta of 0.09.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 EPS. Research analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.62%. General Mills’s payout ratio is presently 55.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Citigroup lowered their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Mizuho decreased their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Bank of America dropped their target price on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.82.

General Mills 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.