General Mills, Inc. (NYSE:GIS) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 56.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,440 shares of the company’s stock after selling 61,387 shares during the period. SVB Wealth LLC’s holdings in General Mills were worth $3,319,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GIS. Vanguard Group Inc. raised its position in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares during the last quarter. Norges Bank acquired a new position in shares of General Mills during the 4th quarter worth about $377,205,000. Capital Research Global Investors raised its position in shares of General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of General Mills by 106.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after purchasing an additional 1,778,345 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of General Mills by 165.6% during the 4th quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock worth $68,381,000 after purchasing an additional 654,550 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock traded up $0.66 on Monday, reaching $66.98. 3,130,556 shares of the stock were exchanged, compared to its average volume of 4,083,253. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average price of $65.84 and a two-hundred day moving average price of $66.55. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.88. The firm has a market capitalization of $37.38 billion, a PE ratio of 15.27, a PEG ratio of 3.75 and a beta of 0.09.

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

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.60 dividend. 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 3.58%. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Analysts Set New Price Targets

GIS has been the subject of several research analyst reports. Stifel Nicolaus reduced their price target on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Bank of America dropped their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI dropped their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.82.

Insider Transactions at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now directly owns 17,397 shares in the company, valued at approximately $1,227,706.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

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.