Douglas Lane & Associates LLC Sells 2,651 Shares of General Mills, Inc. (NYSE:GIS)

Douglas Lane & Associates LLC cut its position in shares of General Mills, Inc. (NYSE:GIS) by 27.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,059 shares of the company’s stock after selling 2,651 shares during the period. Douglas Lane & Associates LLC’s holdings in General Mills were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Vanguard Group Inc. raised its position in General Mills by 16.3% during the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Norges Bank purchased a new stake in General Mills during the fourth quarter valued at approximately $377,205,000. Capital Research Global Investors raised its position in General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the period. Massachusetts Financial Services Co. MA raised its position in General Mills by 106.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after purchasing an additional 1,778,345 shares during the period. Finally, LSV Asset Management raised its position in General Mills by 165.6% during the fourth quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock valued at $68,381,000 after purchasing an additional 654,550 shares during the period. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now directly owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays reduced their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Bank of America reduced their price target on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company reduced their price target on General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Citigroup reduced their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. dropped their price objective on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $68.82.

General Mills Trading Down 0.5 %

NYSE GIS traded down $0.35 on Tuesday, reaching $67.93. The stock had a trading volume of 3,475,484 shares, compared to its average volume of 4,101,174. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average price of $65.62 and a two-hundred day moving average price of $66.75. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $74.45. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.49 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.53%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.