Hennion & Walsh Asset Management Inc. Reduces Position in General Mills, Inc. (NYSE:GIS)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,709 shares of the company’s stock after selling 680 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in General Mills were worth $2,385,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Mills during the fourth quarter worth approximately $27,000. Rise Advisors LLC raised its stake in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares in the last quarter. RFP Financial Group LLC grew its holdings in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co grew its holdings in shares of General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho lowered their price target 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. Evercore ISI lowered 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 report on Friday, June 28th. Barclays lowered their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company decreased their price objective 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. Finally, The Goldman Sachs Group began coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.71.

General Mills Trading Up 1.2 %

Shares of NYSE GIS traded up $0.80 during midday trading on Monday, reaching $69.83. 2,188,462 shares of the stock were exchanged, compared to its average volume of 4,021,928. The business has a 50-day simple moving average of $65.90 and a two-hundred day simple moving average of $67.05. The company has a market capitalization of $38.98 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $74.45. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.44%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 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.