Marco Investment Management LLC Has $399,000 Holdings in General Mills, Inc. $GIS

Marco Investment Management LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 60.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,700 shares of the company’s stock after selling 11,600 shares during the quarter. Marco Investment Management LLC’s holdings in General Mills were worth $399,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its position in General Mills by 21.1% in the 2nd quarter. Wedbush Securities Inc. now owns 16,745 shares of the company’s stock valued at $868,000 after buying an additional 2,916 shares in the last quarter. Savant Capital LLC grew its position in General Mills by 16.1% in the 2nd quarter. Savant Capital LLC now owns 35,176 shares of the company’s stock worth $1,822,000 after purchasing an additional 4,891 shares in the last quarter. Excalibur Management Corp boosted its stake in shares of General Mills by 3.0% in the 2nd quarter. Excalibur Management Corp now owns 16,694 shares of the company’s stock worth $865,000 after buying an additional 480 shares during the last quarter. SouthState Corp increased its position in shares of General Mills by 44.2% during the second quarter. SouthState Corp now owns 3,326 shares of the company’s stock valued at $172,000 after acquiring an additional 1,019 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its stake in shares of General Mills by 8.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 281,490 shares of the company’s stock worth $14,546,000 after purchasing an additional 22,416 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 2.0%

General Mills stock opened at $46.89 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a fifty-two week low of $45.80 and a fifty-two week high of $67.40. The stock has a market cap of $25.01 billion, a P/E ratio of 8.86, a PEG ratio of 1.17 and a beta of -0.04. The firm’s fifty day moving average price is $49.02 and its 200-day moving average price is $51.21.

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

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. General Mills’s payout ratio is presently 46.12%.

Insider Buying and Selling at General Mills

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

Analyst Ratings Changes

GIS has been the topic of a number of research reports. HSBC lowered their price objective on General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. UBS Group reduced their price objective on shares of General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft dropped their target price on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Finally, Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Four 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. According to data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target 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.