International Assets Investment Management LLC Cuts Position in General Mills, Inc. (NYSE:GIS)

International Assets Investment Management LLC lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 23.3% during the second quarter, HoldingsChannel.com reports. The firm owned 7,249 shares of the company’s stock after selling 2,203 shares during the period. International Assets Investment Management LLC’s holdings in General Mills were worth $459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arkadios Wealth Advisors grew its stake in General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after acquiring an additional 10,765 shares during the period. Optimist Retirement Group LLC purchased a new stake in shares of General Mills during the fourth quarter worth about $1,171,000. State Board of Administration of Florida Retirement System raised its position in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in General Mills by 16.1% in 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 buying an additional 96,712 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in 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 last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Bank of America reduced their price objective on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company 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 research note on Wednesday, July 3rd. Citigroup dropped their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock 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 assigned a buy rating to the company. Based on data from MarketBeat, General Mills has an average rating of “Hold” and an average price target of $69.71.

General Mills Trading Up 1.3 %

GIS opened at $72.29 on Friday. The stock has a market capitalization of $40.35 billion, a PE ratio of 16.77, a P/E/G ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a one year low of $60.33 and a one year high of $74.45. 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 business’s 50 day moving average price is $66.71 and its 200 day moving average price is $67.43.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS 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 analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. As a group, equities research analysts expect that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.32%. 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%.

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.