Cornerstone Advisors LLC Has $998,000 Holdings in General Mills, Inc. (NYSE:GIS)

Key Points

• Cornerstone Advisors LLC reduced its holdings in General Mills, Inc. by 25.1%, owning 16,700 shares worth approximately $998,000 after selling 5,600 shares in the first quarter.
• Several hedge funds have recently adjusted their stakes, with Pacer Advisors Inc. increasing its holdings by 4,775.2% and Diamond Hill Capital Management purchasing a new position valued at about $279,570,000.
• General Mills recently declared a quarterly dividend of $0.61 per share, representing a 5.0% yield, up from the previous dividend of $0.60, reflecting a positive change in shareholder return.

Cornerstone Advisors LLC cut its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 25.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,700 shares of the company's stock after selling 5,600 shares during the period. Cornerstone Advisors LLC's holdings in General Mills were worth $998,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in General Mills during the 4th quarter worth $32,000. Perkins Coie Trust Co grew its holdings in shares of General Mills by 69.2% in 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 last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in General Mills during the 1st quarter worth about $34,000. Strategic Investment Solutions Inc. IL lifted its stake in General Mills by 1,096.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock valued at $39,000 after buying an additional 548 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Mills in the fourth quarter worth about $38,000. 75.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a report on Thursday, June 26th. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and dropped their target price for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. Stifel Nicolaus decreased their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, Barclays lowered their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $59.73.

General Mills Stock Performance

Shares of NYSE:GIS traded down $0.35 on Friday, hitting $49.80. 3,781,604 shares of the company were exchanged, compared to its average volume of 5,367,337. The company's 50 day moving average price is $51.90 and its two-hundred day moving average price is $55.99. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a market capitalization of $27.01 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.26 and a beta of -0.01. General Mills, Inc. has a one year low of $48.59 and a one year high of $75.90.

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

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. General Mills's dividend payout ratio (DPR) is 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.