Northeast Investment Management Has $571,000 Stock Position in General Mills, Inc. $GIS

Northeast Investment Management decreased its position in General Mills, Inc. (NYSE:GIS) by 6.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,030 shares of the company’s stock after selling 809 shares during the period. Northeast Investment Management’s holdings in General Mills were worth $571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cidel Asset Management Inc. grew its holdings in shares of General Mills by 5.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 8,374 shares of the company’s stock valued at $434,000 after buying an additional 425 shares during the period. Chicago Partners Investment Group LLC lifted its position in General Mills by 8.8% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,810 shares of the company’s stock valued at $247,000 after acquiring an additional 391 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its position in General Mills by 50.7% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 27,841 shares of the company’s stock valued at $1,442,000 after acquiring an additional 9,370 shares in the last quarter. TrueMark Investments LLC lifted its position in General Mills by 10.2% in the 2nd quarter. TrueMark Investments LLC now owns 97,759 shares of the company’s stock valued at $5,065,000 after acquiring an additional 9,088 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in General Mills by 5.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,780 shares of the company’s stock valued at $559,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 1.6%

Shares of NYSE:GIS opened at $48.48 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The company’s 50-day moving average price is $49.65 and its two-hundred day moving average price is $52.26. The stock has a market capitalization of $25.86 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03. General Mills, Inc. has a one year low of $47.48 and a one year high of $70.60.

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

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio is presently 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research reports. Bank of America cut their price objective on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Stifel Nicolaus cut their price objective on shares of General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. HSBC cut their price target 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. Bernstein Bank cut their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, Barclays cut their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.82.

Insider Activity

In other 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

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.