General Mills, Inc. (NYSE:GIS) Shares Sold by IBM Retirement Fund

IBM Retirement Fund lowered its position in General Mills, Inc. (NYSE:GIS) by 88.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,624 shares of the company’s stock after selling 49,632 shares during the period. IBM Retirement Fund’s holdings in General Mills were worth $521,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GIS. Lenox Wealth Advisors Inc. increased its position in shares of General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock worth $107,000 after buying an additional 14 shares during the last quarter. Alpha Windward LLC increased its position in shares of General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock worth $241,000 after buying an additional 34 shares during the last quarter. Piershale Financial Group Inc. increased its position in shares of General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,425 shares of the company’s stock worth $261,000 after buying an additional 34 shares during the last quarter. Sfmg LLC increased its position in shares of General Mills by 0.7% in the first quarter. Sfmg LLC now owns 4,814 shares of the company’s stock worth $284,000 after buying an additional 34 shares during the last quarter. Finally, Hanson McClain Inc. increased its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the last quarter. 71.46% of the stock is currently owned by institutional investors and hedge funds.

General Mills, Inc. (GIS) traded down 0.75% during midday trading on Friday, reaching $57.14. 4,595,632 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $55.23 and its 200-day moving average price is $57.76. The company has a market capitalization of $32.98 billion, a PE ratio of 20.63 and a beta of 0.61. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $71.96.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. General Mills’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. Equities analysts expect that General Mills, Inc. will post $3.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 3.43%. General Mills’s payout ratio is currently 70.76%.

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A number of brokerages have recently issued reports on GIS. Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target on the stock in a research report on Monday, May 1st. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a report on Monday, June 19th. UBS AG reissued a “neutral” rating and set a $61.00 price objective (down from $63.00) on shares of General Mills in a report on Wednesday, June 21st. Piper Jaffray Companies reissued an “underweight” rating and set a $56.00 price objective (down from $57.00) on shares of General Mills in a report on Monday, June 19th. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $58.00 price objective (down from $59.00) on shares of General Mills in a report on Friday, June 30th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.93.

General Mills Company Profile

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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