Janney Montgomery Scott LLC Sells 9,288 Shares of General Mills, Inc. $GIS

Janney Montgomery Scott LLC lessened its position in shares of General Mills, Inc. (NYSE:GIS) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,821 shares of the company’s stock after selling 9,288 shares during the period. Janney Montgomery Scott LLC’s holdings in General Mills were worth $11,130,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. boosted 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 acquiring an additional 264 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after acquiring an additional 211 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in shares of General Mills in the second quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills in the first quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of General Mills in the first quarter valued at approximately $34,000. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GIS. Deutsche Bank Aktiengesellschaft dropped their price target 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. HSBC dropped their price target on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Stifel Nicolaus dropped their price target on shares of General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Finally, Bank of America dropped their price target on shares of General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.82.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

General Mills Stock Up 0.1%

Shares of GIS opened at $50.38 on Friday. General Mills, Inc. has a one year low of $48.29 and a one year high of $73.78. The company has a market cap of $26.87 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.27 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $49.73 and a two-hundred day simple moving average of $53.05.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company’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. Research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

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.