Everett Harris & Co. CA Has $322,000 Position in General Mills, Inc. $GIS

Everett Harris & Co. CA grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 26.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,210 shares of the company’s stock after acquiring an additional 1,290 shares during the period. Everett Harris & Co. CA’s holdings in General Mills were worth $322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kera Capital Partners Inc. acquired a new stake in General Mills in the second quarter valued at approximately $222,000. Victory Capital Management Inc. increased its stake in shares of General Mills by 7.3% during the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after purchasing an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of General Mills by 7.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock valued at $27,076,000 after purchasing an additional 32,628 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of General Mills by 22.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 383,877 shares of the company’s stock valued at $19,889,000 after purchasing an additional 70,800 shares during the last quarter. Finally, CHICAGO TRUST Co NA bought a new stake in General Mills in the second quarter worth $267,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.4%

Shares of GIS stock opened at $46.48 on Thursday. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. 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 firm has a market cap of $24.79 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. The stock has a 50 day moving average of $48.84 and a 200-day moving average of $50.95.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. General Mills’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, equities analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.61 per share. The ex-dividend date was Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. General Mills’s payout ratio is presently 46.12%.

Analyst Upgrades and Downgrades

GIS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Mizuho decreased their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, September 19th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Finally, UBS Group reduced their price objective on shares of General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research note on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $55.82.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.