Praxis Investment Management Inc. Decreases Stake in General Mills, Inc. $GIS

Praxis Investment Management Inc. lowered its stake in General Mills, Inc. (NYSE:GIS) by 72.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,620 shares of the company’s stock after selling 12,430 shares during the period. Praxis Investment Management Inc.’s holdings in General Mills were worth $239,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. raised its holdings in shares of General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of General Mills during the second quarter worth $32,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Mills during the first quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills during the first quarter worth $34,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of General Mills during the first quarter worth $37,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 1.6%

Shares of NYSE GIS opened at $48.48 on Monday. The company’s 50-day simple moving average is $49.65 and its 200-day simple moving average is $52.26. General Mills, Inc. has a 52-week low of $47.48 and a 52-week high of $70.60. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.

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

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given 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 yield of 5.0%. General Mills’s payout ratio is presently 46.12%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the stock an “equal weight” rating in a report on Thursday, June 26th. Bernstein Bank dropped their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Mizuho dropped their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, September 19th. Jefferies Financial Group dropped their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, September 8th. Finally, Barclays dropped their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $55.82.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

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.