General Mills, Inc. (GIS) Shares Sold by ProVise Management Group LLC
ProVise Management Group LLC trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,481 shares of the company’s stock after selling 1,381 shares during the quarter. ProVise Management Group LLC’s holdings in General Mills were worth $1,965,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Lenox Wealth Advisors Inc. increased its position in shares of General Mills by 0.8% during the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares during the last quarter. LLBH Private Wealth Management LLC increased its position in shares of General Mills by 0.6% during the second quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock valued at $241,000 after acquiring an additional 25 shares during the last quarter. Davis R M Inc. increased its position in shares of General Mills by 0.8% during the second quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock valued at $233,000 after acquiring an additional 34 shares during the last quarter. Hanson McClain Inc. increased its position in shares of General Mills by 1.5% during the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after acquiring an additional 35 shares during the last quarter. Finally, Smith Salley & Associates increased its position in shares of General Mills by 0.8% during the first quarter. Smith Salley & Associates now owns 5,540 shares of the company’s stock valued at $327,000 after acquiring an additional 42 shares during the last quarter. 70.45% of the stock is owned by institutional investors.
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GIS has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $52.00 price target (down from $59.00) on shares of General Mills in a research report on Friday, June 30th. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 target price (down from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Finally, Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $57.82 target price for the company in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.75.
General Mills, Inc. (NYSE GIS) opened at 51.40 on Friday. General Mills, Inc. has a 12-month low of $50.40 and a 12-month high of $64.06. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of 18.42 and a beta of 0.61. The stock has a 50 day moving average price of $54.04 and a 200-day moving average price of $56.00.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Equities analysts predict that General Mills, Inc. will post $3.08 EPS for the current fiscal 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 paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.81%. General Mills’s dividend payout ratio (DPR) is 70.25%.
About General Mills
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.
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