Boston Family Office LLC Decreases Holdings in General Mills, Inc. $GIS

Boston Family Office LLC lowered its holdings in General Mills, Inc. (NYSE:GIS) by 2.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 65,701 shares of the company’s stock after selling 1,350 shares during the quarter. Boston Family Office LLC’s holdings in General Mills were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. increased its stake in General Mills by 0.4% in the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after purchasing an additional 185 shares during the last quarter. SPC Financial Inc. boosted its holdings in shares of General Mills by 1.5% in the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after buying an additional 193 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its holdings in shares of General Mills by 5.0% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock valued at $217,000 after buying an additional 200 shares in the last quarter. ICW Investment Advisors LLC grew its position in shares of General Mills by 0.8% in the 1st quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock valued at $1,479,000 after buying an additional 202 shares during the last quarter. Finally, J2 Capital Management Inc raised its stake in General Mills by 3.1% during the 2nd quarter. J2 Capital Management Inc now owns 6,846 shares of the company’s stock worth $355,000 after acquiring an additional 203 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction that occurred on Friday, September 19th. The stock was 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 in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by corporate insiders.

General Mills Stock Performance

Shares of GIS opened at $47.60 on Monday. General Mills, Inc. has a 1 year low of $45.80 and a 1 year high of $67.40. The stock has a market capitalization of $25.39 billion, a P/E ratio of 9.00, a P/E/G ratio of 1.17 and a beta of -0.04. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The company’s fifty day moving average is $48.24 and its two-hundred day moving average is $50.28.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion for 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 business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th 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 5.1%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s dividend payout ratio is 46.12%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GIS. Morgan Stanley dropped their price objective on General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, September 15th. UBS Group dropped their price target on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research note on Thursday, September 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $45.00 price target (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. HSBC decreased their price objective on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Four equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $55.82.

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.