Atria Wealth Solutions Inc. Sells 405 Shares of General Mills, Inc. (NYSE:GIS)

Atria Wealth Solutions Inc. trimmed its position in General Mills, Inc. (NYSE:GIS) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,668 shares of the company’s stock after selling 405 shares during the period. Atria Wealth Solutions Inc.’s holdings in General Mills were worth $3,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIS. Cetera Trust Company N.A acquired a new position in shares of General Mills during the 4th quarter valued at about $50,000. Optimist Retirement Group LLC acquired a new stake in shares of General Mills during the 4th quarter valued at approximately $1,171,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of 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 valued at $48,177,000 after purchasing an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares during the period. Finally, Apollon Wealth Management LLC raised its position in shares of General Mills by 122.7% in the 4th quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock worth $1,542,000 after buying an additional 13,043 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 1.0 %

Shares of GIS traded up $0.69 on Wednesday, hitting $70.65. 2,963,830 shares of the stock traded hands, compared to its average volume of 4,021,151. General Mills, Inc. has a one year low of $60.33 and a one year high of $74.45. The business has a 50 day simple moving average of $66.12 and a 200 day simple moving average of $67.15. 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 $39.43 billion, a PE ratio of 16.39, a P/E/G ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.12 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, June 27th. Mizuho lowered their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Barclays decreased their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. dropped their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Wells Fargo & Company lowered their target price 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $69.71.

About General Mills

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.