Axxcess Wealth Management LLC Sells 7,313 Shares of General Mills, Inc. (NYSE:GIS)

Axxcess Wealth Management LLC lessened its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 39.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,262 shares of the company's stock after selling 7,313 shares during the period. Axxcess Wealth Management LLC's holdings in General Mills were worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC bought a new position in General Mills during the 4th quarter worth $30,000. Perkins Coie Trust Co increased its stake in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the period. VSM Wealth Advisory LLC bought a new position in General Mills during the 4th quarter worth $32,000. Transce3nd LLC bought a new position in shares of General Mills in the 4th quarter valued at $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills in the 1st quarter valued at $34,000. Institutional investors own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays decreased their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. JPMorgan Chase & Co. decreased their price target on General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Morgan Stanley reiterated an "underweight" rating and issued a $51.00 price target (down previously from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Stifel Nicolaus decreased their price target on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Wells Fargo & Company set a $53.00 price target on General Mills and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $59.73.

General Mills Trading Up 0.2%

GIS traded up $0.09 during midday trading on Wednesday, hitting $50.10. 5,895,375 shares of the company were exchanged, compared to its average volume of 4,721,460. The firm has a market capitalization of $27.17 billion and a P/E ratio of 12.22. General Mills, Inc. has a 1-year low of $49.63 and a 1-year high of $75.90. The firm's 50 day moving average price is $53.32 and its 200-day moving average price is $57.26. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 4.87%. This is a positive change from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. General Mills's payout ratio is presently 59.51%.

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.