Connor Clark & Lunn Investment Management Ltd. Cuts Position in General Mills, Inc. (NYSE:GIS)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 67.5% during the first quarter, Holdings Channel.com reports. The firm owned 18,860 shares of the company’s stock after selling 39,187 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in General Mills were worth $1,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Perkins Coie Trust Co grew its holdings in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the period. Transce3nd LLC purchased a new stake in General Mills in the fourth quarter worth about $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Mills in the first quarter worth about $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in General Mills in the first quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Mills in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.0%

Shares of GIS stock opened at $49.65 on Friday. General Mills, Inc. has a 12-month low of $48.59 and a 12-month high of $75.90. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $51.31 and its 200 day moving average is $55.52. The stock has a market capitalization of $26.93 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.25 and a beta of -0.01.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the firm earned $1.01 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.61 dividend. The ex-dividend date was Thursday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.9%. General Mills’s payout ratio is 59.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Morgan Stanley reissued an “underweight” rating and set a $51.00 price target (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Bank of America reduced their price target on shares of General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. UBS Group reduced their price target on shares of General Mills from $52.00 to $49.00 and set a “sell” rating for the company in a research report on Thursday, June 26th. Finally, Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.73.

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.