American International Group Inc. Trims Stock Position in General Mills, Inc. (NYSE:GIS)

American International Group Inc. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,155 shares of the company’s stock after selling 5,554 shares during the quarter. American International Group Inc.’s holdings in General Mills were worth $13,585,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brookstone Capital Management boosted its stake in General Mills by 15.1% in the 4th quarter. Brookstone Capital Management now owns 14,458 shares of the company’s stock worth $942,000 after purchasing an additional 1,899 shares in the last quarter. Mutual Advisors LLC boosted its stake in General Mills by 10.0% in the 4th quarter. Mutual Advisors LLC now owns 6,295 shares of the company’s stock worth $410,000 after purchasing an additional 574 shares in the last quarter. HB Wealth Management LLC boosted its stake in General Mills by 6.2% in the 4th quarter. HB Wealth Management LLC now owns 38,734 shares of the company’s stock worth $2,523,000 after purchasing an additional 2,265 shares in the last quarter. Pacer Advisors Inc. boosted its stake in General Mills by 88.7% in the 4th quarter. Pacer Advisors Inc. now owns 89,011 shares of the company’s stock worth $5,798,000 after purchasing an additional 41,830 shares in the last quarter. Finally, Echo Wealth Management LLC boosted its stake in General Mills by 166.5% in the 4th quarter. Echo Wealth Management LLC now owns 33,388 shares of the company’s stock worth $2,158,000 after purchasing an additional 20,861 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. Evercore ISI dropped their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Mizuho reduced their price target 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. Citigroup reduced their price target on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and upped their price target for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.82.

Insider Activity at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by company insiders.

General Mills Stock Up 0.5 %

GIS stock traded up $0.35 during trading on Thursday, reaching $65.86. 1,981,670 shares of the company traded hands, compared to its average volume of 4,086,010. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a market capitalization of $36.76 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 3.62 and a beta of 0.09. The business has a 50 day simple moving average of $66.05 and a 200 day simple moving average of $66.51. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $77.08.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping 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 firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue was down 6.3% compared to the same quarter last year. On average, equities 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 declared 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. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

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.