Burney Co. Trims Stock Position in General Mills, Inc. (NYSE:GIS)

Burney Co. cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 15.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,528 shares of the company’s stock after selling 2,032 shares during the period. Burney Co.’s holdings in General Mills were worth $729,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in General Mills by 7.4% in the 4th quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after buying an additional 539 shares during the last quarter. Choreo LLC increased its position in General Mills by 58.5% during the fourth quarter. Choreo LLC now owns 11,738 shares of the company’s stock worth $765,000 after purchasing an additional 4,334 shares during the last quarter. Mission Wealth Management LP boosted its holdings in shares of General Mills by 11.0% in the 4th quarter. Mission Wealth Management LP now owns 12,938 shares of the company’s stock valued at $843,000 after purchasing an additional 1,277 shares during the last quarter. Brighton Jones LLC grew its stake in shares of General Mills by 14.1% during the 4th quarter. Brighton Jones LLC now owns 7,233 shares of the company’s stock valued at $471,000 after buying an additional 894 shares during the period. Finally, Alpha Cubed Investments LLC increased its holdings in shares of General Mills by 4.3% during the 4th quarter. Alpha Cubed Investments LLC now owns 5,583 shares of the company’s stock worth $364,000 after buying an additional 231 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Trading Down 0.1 %

Shares of GIS stock traded down $0.08 on Thursday, reaching $71.48. The company had a trading volume of 1,522,455 shares, compared to its average volume of 3,947,099. The company has a 50-day moving average of $66.51 and a 200-day moving average of $67.37. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $74.45. The stock has a market cap of $39.90 billion, a PE ratio of 16.52, a PEG ratio of 3.83 and a beta of 0.09. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17.

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

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.36%. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analyst Weigh In

GIS has been the subject of a number of analyst reports. Argus reissued a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Wells Fargo & Company decreased their price target on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. JPMorgan Chase & Co. lowered their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Evercore ISI reduced their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Finally, Citigroup reduced their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.71.

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.