VeraBank N.A. reduced its position in General Mills, Inc. (NYSE:GIS) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,587 shares of the company’s stock after selling 1,332 shares during the quarter. VeraBank N.A.’s holdings in General Mills were worth $346,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new position in shares of General Mills in the 1st quarter valued at about $31,000. Certified Advisory Corp boosted its stake in shares of General Mills by 100.9% in the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after buying an additional 323 shares during the period. NuWave Investment Management LLC boosted its stake in shares of General Mills by 377.4% in the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock valued at $33,000 after buying an additional 502 shares during the period. CX Institutional boosted its stake in shares of General Mills by 74.2% in the 2nd quarter. CX Institutional now owns 655 shares of the company’s stock valued at $34,000 after buying an additional 279 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of General Mills in the 1st quarter valued at about $35,000. 69.41% of the stock is owned by institutional investors.
GIS stock traded down $0.31 during trading on Friday, hitting $53.70. 3,521,518 shares of the company’s stock were exchanged, compared to its average volume of 3,391,366. The firm’s 50-day moving average price is $53.36. The firm has a market capitalization of $32.33 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.77. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $54.74. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio is currently 60.87%.
Several equities analysts have recently issued reports on the company. Evercore ISI assumed coverage on General Mills in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 price objective for the company. Piper Jaffray Companies lifted their price objective on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley lifted their price objective on General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, June 27th. Zacks Investment Research reiterated a “strong-buy” rating on shares of General Mills in a research note on Thursday, May 30th. Finally, Edward Jones upgraded General Mills from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.66.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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