Tyche Wealth Partners LLC Trims Stock Holdings in General Mills, Inc. (NYSE:GIS)

Tyche Wealth Partners LLC cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.2% during the first quarter, HoldingsChannel.com reports. The fund owned 5,159 shares of the company’s stock after selling 281 shares during the quarter. Tyche Wealth Partners LLC’s holdings in General Mills were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Howard Capital Management Inc. increased its stake in General Mills by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock worth $250,000 after acquiring an additional 198 shares during the last quarter. Fairscale Capital LLC lifted its stake in shares of General Mills by 30.2% in the 4th quarter. Fairscale Capital LLC now owns 871 shares of the company’s stock valued at $56,000 after purchasing an additional 202 shares in the last quarter. City Center Advisors LLC grew its holdings in shares of General Mills by 3.4% during the 1st quarter. City Center Advisors LLC now owns 6,071 shares of the company’s stock worth $363,000 after purchasing an additional 202 shares during the period. Security National Bank of SO Dak increased its position in General Mills by 0.7% during the 4th quarter. Security National Bank of SO Dak now owns 31,290 shares of the company’s stock worth $1,995,000 after purchasing an additional 205 shares in the last quarter. Finally, Canopy Partners LLC increased its position in General Mills by 4.1% during the 4th quarter. Canopy Partners LLC now owns 5,212 shares of the company’s stock worth $332,000 after purchasing an additional 207 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 5.0%

GIS stock opened at $50.74 on Thursday. The company has a market capitalization of $27.97 billion, a P/E ratio of 11.15, a PEG ratio of 1.27 and a beta of 0.02. The firm has a 50 day simple moving average of $54.62 and a 200-day simple moving average of $58.57. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.24. General Mills, Inc. has a twelve month low of $50.66 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a net margin of 13.02% and a return on equity of 26.39%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.61 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.81%. General Mills’s payout ratio is currently 52.75%.

Analysts Set New Price Targets

GIS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. The Goldman Sachs Group lowered shares of General Mills from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $58.00 in a report on Monday, June 9th. Citigroup decreased their price target on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Jefferies Financial Group raised their price objective on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Finally, UBS Group decreased their target price on General Mills from $54.00 to $52.00 and set a “sell” rating for the company in a research report on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $62.63.

General Mills Company 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.