Webster Bank N. A. Reduces Stock Position in General Mills, Inc. (NYSE:GIS)

Webster Bank N. A. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 34.5% in the second quarter, HoldingsChannel.com reports. The firm owned 3,412 shares of the company’s stock after selling 1,800 shares during the period. Webster Bank N. A.’s holdings in General Mills were worth $179,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of General Mills by 1.1% during the first quarter. BlackRock Inc. now owns 41,345,362 shares of the company’s stock worth $2,139,622,000 after purchasing an additional 435,121 shares during the period. Northern Trust Corp lifted its holdings in General Mills by 2.8% in the first quarter. Northern Trust Corp now owns 7,590,022 shares of the company’s stock worth $392,784,000 after buying an additional 210,135 shares during the period. Geode Capital Management LLC lifted its holdings in General Mills by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock worth $281,036,000 after buying an additional 473,831 shares during the period. FMR LLC lifted its holdings in General Mills by 92.9% in the first quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after buying an additional 1,652,275 shares during the period. Finally, Swiss National Bank lifted its holdings in General Mills by 2.8% in the first quarter. Swiss National Bank now owns 2,698,916 shares of the company’s stock worth $139,669,000 after buying an additional 72,500 shares during the period. Institutional investors own 69.41% of the company’s stock.

Several equities analysts have recently issued reports on GIS shares. Morgan Stanley lifted their target price on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, June 27th. Evercore ISI started coverage on shares of General Mills in a report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price for the company. Zacks Investment Research reiterated a “strong-buy” rating on shares of General Mills in a report on Thursday, May 30th. Piper Jaffray Companies lifted their target price on shares of General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, UBS Group lifted their target price on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. General Mills has an average rating of “Hold” and an average target price of $52.66.

Shares of GIS traded down $0.31 on Friday, hitting $53.70. 3,521,518 shares of the stock traded hands, compared to its average volume of 3,391,366. The stock has a market cap of $32.33 billion, a P/E ratio of 16.68, a PEG ratio of 2.25 and a beta of 0.77. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. The firm has a 50 day simple moving average of $53.36. General Mills, Inc. has a one year low of $36.42 and a one year high of $54.74.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. On average, equities research analysts forecast that General Mills, Inc. will post 3.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is currently 60.87%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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