Guyasuta Investment Advisors Inc. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,096 shares of the company’s stock after selling 2,694 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in General Mills were worth $1,376,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GIS. Lee Financial Co boosted its stake in shares of General Mills by 178.2% during the 1st quarter. Lee Financial Co now owns 2,504 shares of the company’s stock worth $113,000 after acquiring an additional 1,604 shares in the last quarter. Institutional & Family Asset Management LLC purchased a new stake in shares of General Mills during the 1st quarter worth approximately $115,000. Adviser Investments LLC boosted its stake in shares of General Mills by 158.7% during the 2nd quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock worth $115,000 after acquiring an additional 1,600 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of General Mills during the 2nd quarter worth approximately $115,000. Finally, TLP Group LLC boosted its stake in shares of General Mills by 840.9% during the 1st quarter. TLP Group LLC now owns 2,992 shares of the company’s stock worth $135,000 after acquiring an additional 2,674 shares in the last quarter. 71.75% of the stock is currently owned by institutional investors and hedge funds.
GIS has been the topic of a number of recent research reports. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Sanford C. Bernstein reaffirmed a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 target price on shares of General Mills in a research note on Wednesday, June 27th. Piper Jaffray Companies set a $45.00 target price on General Mills and gave the company a “hold” rating in a research note on Tuesday, June 5th. Finally, Citigroup reduced their target price on General Mills from $61.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $50.71.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.89 billion. General Mills had a return on equity of 35.14% and a net margin of 13.54%. General Mills’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. analysts forecast that General Mills, Inc. will post 3.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, July 9th. This represents a $1.96 annualized dividend and a yield of 4.31%. General Mills’s dividend payout ratio (DPR) is presently 63.02%.
In other General Mills news, Director Heidi Miller sold 13,204 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $45.77, for a total value of $604,347.08. Following the completion of the transaction, the director now directly owns 82,295 shares in the company, valued at approximately $3,766,642.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening purchased 6,000 shares of the business’s stock in a transaction on Wednesday, May 23rd. The stock was acquired at an average price of $42.18 per share, with a total value of $253,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 114,696 shares in the company, valued at approximately $4,837,877.28. The disclosure for this purchase can be found here. Insiders sold a total of 158,018 shares of company stock valued at $7,114,487 over the last quarter. 1.40% of the stock is currently owned by insiders.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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