Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in General Mills, Inc. (NYSE:GIS) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,777,909 shares of the company’s stock after selling 49,564 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.31% of General Mills worth $98,496,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Lenox Wealth Advisors Inc. lifted its stake in shares of General Mills by 0.8% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the last quarter. LLBH Private Wealth Management LLC lifted its stake in shares of General Mills by 0.6% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock valued at $241,000 after purchasing an additional 25 shares during the last quarter. Davis R M Inc. lifted its stake in shares of General Mills by 0.8% in the 2nd quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock valued at $233,000 after purchasing an additional 34 shares during the last quarter. Hanson McClain Inc. lifted its stake in shares of General Mills by 1.5% in the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after purchasing an additional 35 shares during the last quarter. Finally, Smith Salley & Associates lifted its stake in shares of General Mills by 0.8% in the 1st quarter. Smith Salley & Associates now owns 5,540 shares of the company’s stock valued at $327,000 after purchasing an additional 42 shares during the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on GIS. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of General Mills in a research note on Wednesday. Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 price objective on shares of General Mills in a research note on Monday, September 25th. Wells Fargo & Company lowered their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $53.00 price objective on shares of General Mills in a research note on Thursday, September 21st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $57.00 price objective (down from $60.00) on shares of General Mills in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and an average price target of $56.75.

General Mills, Inc. (NYSE:GIS) opened at 51.40 on Friday. The firm’s 50-day moving average price is $54.04 and its 200 day moving average price is $56.00. The stock has a market capitalization of $29.21 billion, a P/E ratio of 18.42 and a beta of 0.61. General Mills, Inc. has a 12-month low of $50.40 and a 12-month high of $64.06.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.

TRADEMARK VIOLATION WARNING: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/10/07/sumitomo-mitsui-trust-holdings-inc-has-98-50-million-stake-in-general-mills-inc-gis.html.

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.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

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

Receive News & Stock Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related stocks with our FREE daily email newsletter.