NorthRock Partners LLC Has $272,000 Stock Position in General Mills, Inc. (NYSE:GIS)

NorthRock Partners LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 39.5% during the first quarter, Holdings Channel.com reports. The fund owned 4,541 shares of the company’s stock after selling 2,965 shares during the period. NorthRock Partners LLC’s holdings in General Mills were worth $272,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft lifted its stake in General Mills by 1.3% in the first quarter. Baader Bank Aktiengesellschaft now owns 23,499 shares of the company’s stock valued at $1,401,000 after buying an additional 291 shares during the period. SlateStone Wealth LLC lifted its stake in General Mills by 4.2% in the first quarter. SlateStone Wealth LLC now owns 11,776 shares of the company’s stock valued at $704,000 after buying an additional 471 shares during the period. Arkadios Wealth Advisors lifted its stake in General Mills by 54.9% in the first quarter. Arkadios Wealth Advisors now owns 56,331 shares of the company’s stock valued at $3,368,000 after buying an additional 19,969 shares during the period. Eastern Bank lifted its stake in General Mills by 0.8% in the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after buying an additional 186 shares during the period. Finally, XTX Topco Ltd lifted its stake in General Mills by 62.5% in the first quarter. XTX Topco Ltd now owns 51,570 shares of the company’s stock valued at $3,083,000 after buying an additional 19,839 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GIS. 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. Stifel Nicolaus lowered their target price on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. The Goldman Sachs Group lowered General Mills from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $58.00 in a research report on Monday, June 9th. Finally, Wall Street Zen lowered General Mills from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.73.

General Mills Trading Down 0.1%

Shares of General Mills stock opened at $48.94 on Friday. The stock has a fifty day simple moving average of $52.24 and a 200 day simple moving average of $56.26. General Mills, Inc. has a 12-month low of $48.59 and a 12-month high of $75.90. The company has a market capitalization of $26.55 billion and a P/E ratio of 11.94. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. General Mills’s revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. This is a boost from General Mills’s previous quarterly dividend of $0.60. General Mills’s payout ratio is 59.51%.

General Mills 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.