Laraway Financial Advisors Inc Cuts Stock Position in General Mills, Inc. $GIS

Laraway Financial Advisors Inc trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,698 shares of the company’s stock after selling 200 shares during the period. Laraway Financial Advisors Inc’s holdings in General Mills were worth $140,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Garde Capital Inc. grew its position in General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after acquiring an additional 264 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Mills in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills during the 1st quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in General Mills in the 1st quarter worth $37,000. Finally, Pingora Partners LLC raised its position in General Mills by 416.7% in the 1st quarter. Pingora Partners LLC now owns 620 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 0.4%

Shares of NYSE GIS opened at $50.18 on Tuesday. The firm has a fifty day simple moving average of $49.74 and a two-hundred day simple moving average of $52.91. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $73.74. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $26.77 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.9%. General Mills’s dividend payout ratio is 46.12%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GIS shares. Barclays cut their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, September 19th. Bernstein Bank dropped their target price on General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, September 18th. Mizuho reduced their price target on General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, September 19th. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Finally, Stifel Nicolaus dropped their price objective on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $55.82.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

About General Mills

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.