Main Street Group LTD Sells 243 Shares of General Mills, Inc. (NYSE:GIS)

Main Street Group LTD lowered its stake in General Mills, Inc. (NYSE:GIS) by 12.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,779 shares of the company’s stock after selling 243 shares during the period. Main Street Group LTD’s holdings in General Mills were worth $113,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GIS. Private Trust Co. NA lifted its holdings in shares of General Mills by 1.4% during the first quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock valued at $719,000 after purchasing an additional 140 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after acquiring an additional 145 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after purchasing an additional 151 shares during the last quarter. Park Place Capital Corp boosted its stake in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares in the last quarter. Finally, Secure Asset Management LLC grew its position in General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS traded up $0.55 during trading on Friday, hitting $75.06. The company had a trading volume of 4,057,900 shares, compared to its average volume of 3,955,089. The stock has a 50 day simple moving average of $67.64 and a 200 day simple moving average of $67.85. The firm has a market capitalization of $41.89 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 4.09 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.54.

General Mills (NYSE:GIS) last issued its quarterly earnings results 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. The business 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 company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.20%. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GIS shares. Bank of America dropped their target price on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Evercore ISI cut their target price on 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. Barclays decreased their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, June 27th. Finally, 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 note on Thursday, June 27th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $69.56.

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.