Adell Harriman & Carpenter Inc. Lowers Stock Position in General Mills, Inc. $GIS

Adell Harriman & Carpenter Inc. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 8.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,594 shares of the company’s stock after selling 572 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in General Mills were worth $342,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GIS. Charles Schwab Investment Management Inc. lifted its position in General Mills by 434.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in General Mills during the first quarter valued at approximately $279,570,000. Pacer Advisors Inc. lifted its position in General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after acquiring an additional 3,373,338 shares during the last quarter. Nuveen LLC purchased a new stake in General Mills during the first quarter valued at approximately $92,717,000. Finally, Federated Hermes Inc. lifted its position in General Mills by 178.1% during the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock valued at $90,908,000 after acquiring an additional 973,798 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. UBS Group cut their price target on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research note on Thursday, September 18th. Finally, Mizuho cut 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 note on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.82.

General Mills Trading Up 1.0%

Shares of General Mills stock opened at $47.06 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $46.46 and a 12-month high of $68.89. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.17 and a beta of -0.03. The firm’s 50 day simple moving average is $49.36 and its two-hundred day simple moving average is $51.68.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business 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 revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. Analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.