General Mills, Inc. (NYSE:GIS) Stock Position Cut by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,931 shares of the company’s stock after selling 155 shares during the quarter. Jeppson Wealth Management LLC’s holdings in General Mills were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GIS. Arkadios Wealth Advisors raised its holdings in General Mills by 41.8% during the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC acquired a new position in General Mills during the fourth quarter worth about $1,171,000. State Board of Administration of Florida Retirement System raised its position in General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA boosted its holdings in General Mills by 164.1% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock worth $1,307,000 after buying an additional 11,298 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GIS. Barclays decreased their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Citigroup cut their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.56.

General Mills Stock Performance

GIS stock traded up $0.45 during mid-day trading on Friday, reaching $74.96. 244,442 shares of the stock traded hands, compared to its average volume of 3,932,919. The firm has a market capitalization of $41.84 billion, a PE ratio of 17.29, a P/E/G ratio of 4.09 and a beta of 0.09. The business has a 50-day moving average of $67.41 and a two-hundred day moving average of $67.77. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.14.

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

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.20%. General Mills’s payout ratio is presently 55.68%.

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 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.