Steigerwald Gordon & Koch Inc. Trims Holdings in General Mills, Inc. $GIS

Steigerwald Gordon & Koch Inc. decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 196,812 shares of the company’s stock after selling 953 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in General Mills were worth $10,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Garde Capital Inc. raised its position in General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after purchasing an additional 264 shares during the period. Perkins Coie Trust Co raised its position in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock valued at $31,000 after purchasing an additional 211 shares during the period. Armstrong Advisory Group Inc. purchased a new stake in General Mills in the second quarter valued at $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Mills in the first quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in General Mills in the first quarter valued at $34,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.5%

NYSE:GIS opened at $50.11 on Tuesday. The stock has a 50-day simple moving average of $49.76 and a 200-day simple moving average of $53.62. The stock has a market cap of $26.73 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.27 and a beta of -0.02. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $74.98. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business 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 business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, 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 disclosed 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 4.9%. This is an increase from General Mills’s previous quarterly dividend of $0.60. General Mills’s payout ratio is currently 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research analyst reports. Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Bank of America dropped their price objective on General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Mizuho dropped their price objective on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.82.

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.