Hamel Associates Inc. Has $291,000 Holdings in General Mills, Inc. $GIS

Hamel Associates Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 79.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,615 shares of the company’s stock after selling 22,330 shares during the quarter. Hamel Associates Inc.’s holdings in General Mills were worth $291,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Lido Advisors LLC lifted its holdings in shares of General Mills by 2.4% during the second quarter. Lido Advisors LLC now owns 36,900 shares of the company’s stock valued at $1,912,000 after acquiring an additional 859 shares during the period. New York State Common Retirement Fund increased its position in shares of General Mills by 9.3% during the 2nd quarter. New York State Common Retirement Fund now owns 386,698 shares of the company’s stock worth $20,035,000 after purchasing an additional 33,000 shares in the last quarter. West Family Investments Inc. lifted its holdings in General Mills by 78.6% during the 2nd quarter. West Family Investments Inc. now owns 6,447 shares of the company’s stock valued at $334,000 after purchasing an additional 2,837 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in General Mills by 0.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 124,117 shares of the company’s stock valued at $6,431,000 after buying an additional 366 shares in the last quarter. Finally, Norges Bank bought a new stake in General Mills during the second quarter worth about $417,508,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

General Mills stock opened at $47.60 on Friday. The business’s 50-day simple moving average is $48.24 and its 200 day simple moving average is $50.31. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 12-month low of $45.80 and a 12-month high of $67.40.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm 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 quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. As a group, research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 9th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s payout ratio is currently 46.12%.

Insider Activity at General Mills

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

Analysts Set New Price Targets

Several brokerages have recently commented on GIS. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Barclays cut their price objective on General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, September 19th. HSBC decreased their target price on General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Four investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.82.

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.