Sippican Capital Advisors Cuts Holdings in General Mills, Inc. $GIS

Sippican Capital Advisors trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 12.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,576 shares of the company’s stock after selling 1,307 shares during the quarter. Sippican Capital Advisors’ holdings in General Mills were worth $496,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Garde Capital Inc. increased its holdings in General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in General Mills in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in General Mills in the first quarter valued at approximately $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in General Mills in the first quarter valued at approximately $37,000. Finally, Pingora Partners LLC boosted its stake in General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, September 8th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Bernstein Bank lowered their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, September 18th. HSBC lowered their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.82.

Insiders Place Their Bets

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

General Mills Trading Up 0.3%

NYSE:GIS opened at $49.37 on Friday. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $72.55. The firm has a fifty day simple moving average of $49.78 and a 200-day simple moving average of $52.71. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $26.33 billion, a P/E ratio of 9.33, a PEG ratio of 1.24 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. On average, equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

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 issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. General Mills’s payout ratio is presently 46.12%.

General Mills Company 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.