Burney Co. Has $285,000 Stock Position in General Mills, Inc. $GIS

Burney Co. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 57.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,494 shares of the company’s stock after selling 7,307 shares during the period. Burney Co.’s holdings in General Mills were worth $285,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. raised its stake in shares of General Mills by 101.5% in 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. Armstrong Advisory Group Inc. acquired a new stake in General Mills during the 2nd quarter valued at $32,000. GKV Capital Management Co. Inc. bought a new position in General Mills in the 1st quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. bought a new position in General Mills in the 1st quarter valued at $37,000. Finally, Pingora Partners LLC boosted its stake in General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Down 0.8%

Shares of NYSE GIS opened at $46.00 on Friday. General Mills, Inc. has a 1 year low of $45.80 and a 1 year high of $67.40. The firm’s 50-day moving average is $49.07 and its 200-day moving average is $51.29. 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 $24.54 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04.

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. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. General Mills’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 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Morgan Stanley decreased their price objective on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, September 15th. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Barclays reduced their target price 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. Finally, Bernstein Bank lowered their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, September 18th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.82.

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.