Pinion Investment Advisors LLC Sells 747 Shares of General Mills, Inc. (NYSE:GIS)

Pinion Investment Advisors LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,503 shares of the company’s stock after selling 747 shares during the quarter. Pinion Investment Advisors LLC’s holdings in General Mills were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors boosted its position in shares of General Mills by 41.8% in the second 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 acquired a new stake in General Mills in the 4th quarter worth $1,171,000. State Board of Administration of Florida Retirement System grew its position in General Mills by 5.8% in 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. increased its holdings in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after purchasing an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its position in shares of General Mills by 164.1% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after buying an additional 11,298 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $73.71 on Friday. The stock has a market capitalization of $41.03 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90. The firm has a 50 day moving average of $68.73 and a 200-day moving average of $68.18. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.26%. General Mills’s dividend payout ratio is 55.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Evercore ISI reduced their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.07.

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.