Agran Libbie reduced its stake in shares of General Mills Inc. (NYSE:GIS) by 19.6% during the second quarter, Holdings Channel reports. The fund owned 39,698 shares of the company’s stock after selling 9,705 shares during the period. Agran Libbie’s holdings in General Mills were worth $2,831,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Lenox Wealth Advisors Inc. increased its stake in shares of General Mills by 0.7% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,778 shares of the company’s stock worth $127,000 after buying an additional 13 shares in the last quarter. Piershale Financial Group Inc. increased its stake in shares of General Mills by 1.5% in the second quarter. Piershale Financial Group Inc. now owns 4,328 shares of the company’s stock worth $309,000 after buying an additional 65 shares in the last quarter. Adirondack Trust Co. increased its stake in shares of General Mills by 2.2% in the second quarter. Adirondack Trust Co. now owns 3,755 shares of the company’s stock worth $268,000 after buying an additional 80 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of General Mills by 0.7% in the second quarter. Patten & Patten Inc. TN now owns 11,110 shares of the company’s stock worth $792,000 after buying an additional 82 shares in the last quarter. Finally, Cleararc Capital Inc. increased its stake in shares of General Mills by 0.3% in the first quarter. Cleararc Capital Inc. now owns 31,250 shares of the company’s stock worth $1,980,000 after buying an additional 102 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.
Shares of General Mills Inc. (NYSE:GIS) traded up 0.35% during mid-day trading on Friday, reaching $63.88. The company’s stock had a trading volume of 3,328,379 shares. General Mills Inc. has a 12 month low of $53.53 and a 12 month high of $72.95. The firm has a market cap of $37.78 billion, a price-to-earnings ratio of 23.23 and a beta of 0.38. The company’s 50-day moving average is $67.98 and its 200 day moving average is $66.21.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The firm earned $3.91 billion during the quarter. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that General Mills Inc. will post $3.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. General Mills’s dividend payout ratio (DPR) is currently 69.82%.
A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued a “hold” rating on shares of General Mills in a research report on Sunday, July 17th. Royal Bank Of Canada increased their price target on General Mills from $70.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, June 30th. Citigroup Inc. reissued a “buy” rating and set a $76.00 price target (up previously from $72.00) on shares of General Mills in a research report on Wednesday, June 29th. Credit Suisse Group AG reissued a “hold” rating and set a $68.00 price target on shares of General Mills in a research report on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and set a $60.00 price target (up previously from $58.00) on shares of General Mills in a research report on Thursday, June 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $68.22.
In other news, insider John R. Church sold 99,373 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $71.17, for a total transaction of $7,072,376.41. Following the completion of the transaction, the insider now directly owns 108,311 shares in the company, valued at approximately $7,708,493.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $71.11, for a total transaction of $711,100.00. Following the transaction, the director now owns 79,954 shares of the company’s stock, valued at $5,685,528.94. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with MarketBeat.com's FREE daily email newsletter.