Greenwood Capital Associates LLC Has $1.09 Million Position in General Mills, Inc. $GIS

Greenwood Capital Associates LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,070 shares of the company’s stock after selling 258 shares during the period. Greenwood Capital Associates LLC’s holdings in General Mills were worth $1,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after buying an additional 15,480,835 shares during the period. Ameriprise Financial Inc. increased its stake in shares of General Mills by 8.1% in the 1st quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after acquiring an additional 741,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of General Mills by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company’s stock valued at $428,213,000 after acquiring an additional 315,375 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in General Mills by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock worth $417,674,000 after purchasing an additional 634,393 shares during the period. Finally, Invesco Ltd. grew its holdings in General Mills by 6.9% in the first quarter. Invesco Ltd. now owns 6,403,879 shares of the company’s stock worth $382,888,000 after purchasing an additional 414,768 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GIS shares. HSBC cut their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Bank of America dropped their price target on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a report on Saturday, September 27th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Finally, Morgan Stanley reduced their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, September 15th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.82.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

General Mills Stock Up 0.1%

Shares of NYSE:GIS opened at $50.38 on Friday. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.27 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $73.78. The business’s 50 day moving average is $49.73 and its 200 day moving average is $53.05.

General Mills (NYSE:GIS) last issued its quarterly earnings data 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. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the business earned $1.07 EPS. The business’s revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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