General Mills, Inc. $GIS Stock Holdings Lessened by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its General Mills position by 67.6% in the third quarter, selling 110,727 shares and retaining 53,096 shares worth approximately $1.71 million. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly earnings of $0.75 per share, exceeding the $0.72 consensus estimate, while revenue of $4.39 billion also topped expectations; however, revenue declined 2.8% year over year.
• The company declared a quarterly dividend of $0.61, representing a 7.1% annualized yield. Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $36.59.

Crossmark Global Holdings Inc. cut its position in General Mills, Inc. (NYSE:GIS - Free Report) by 67.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,096 shares of the company's stock after selling 110,727 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in General Mills were worth $1,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MCF Advisors LLC raised its stake in General Mills by 7.8% during the second quarter. MCF Advisors LLC now owns 3,812 shares of the company's stock worth $133,000 after acquiring an additional 277 shares in the last quarter. Triumph Capital Management grew its holdings in shares of General Mills by 45.0% during the 2nd quarter. Triumph Capital Management now owns 915 shares of the company's stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. HB Wealth Management LLC increased its position in General Mills by 0.6% during the 1st quarter. HB Wealth Management LLC now owns 48,145 shares of the company's stock worth $1,792,000 after purchasing an additional 309 shares in the last quarter. Union Savings Bank lifted its stake in General Mills by 23.7% in the 3rd quarter. Union Savings Bank now owns 1,701 shares of the company's stock valued at $55,000 after purchasing an additional 326 shares during the last quarter. Finally, Clearstead Trust LLC grew its stake in shares of General Mills by 73.8% during the first quarter. Clearstead Trust LLC now owns 810 shares of the company's stock worth $30,000 after buying an additional 344 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $34.39 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.70 and a debt-to-equity ratio of 1.66. General Mills, Inc. has a twelve month low of $31.17 and a twelve month high of $49.59. The stock's 50 day moving average is $35.93 and its 200-day moving average is $35.53. The firm has a market capitalization of $18.39 billion, a price-to-earnings ratio of -20.71, a PEG ratio of 1.86 and a beta of 0.03.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The business had revenue of $4.39 billion for the quarter, compared to analysts' expectations of $4.35 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that General Mills, Inc. will post 3.08 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a $0.61 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $2.44 annualized dividend and a yield of 7.1%. General Mills's dividend payout ratio is presently -146.99%.

Analyst Ratings Changes

GIS has been the topic of several research reports. BNP Paribas Exane boosted their price target on General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. UBS Group reiterated a "sell" rating on shares of General Mills in a research report on Wednesday, September 16th. Sanford C. Bernstein reissued an "underperform" rating and set a $30.00 target price on shares of General Mills in a report on Thursday, September 24th. Bank of America restated a "neutral" rating on shares of General Mills in a research report on Thursday, September 24th. Finally, Evercore set a $38.00 price target on shares of General Mills in a research note on Monday, September 14th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $36.59.

Key Headlines Impacting General Mills

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Expansion into high-protein snacking: General Mills has launched EPIC Sticks, a four-flavor meat-snack line made with grass-fed beef or free-range chicken. Its gluten-free, dairy-free and Paleo-friendly positioning gives the company exposure to growing demand for convenient, protein-rich snacks and could broaden EPIC’s shelf presence. How EPIC Sticks Launch At General Mills Has Changed Its Investment Story
• Positive Sentiment: Recent earnings modestly exceeded expectations: General Mills previously reported adjusted earnings of $0.75 per share versus the $0.72 consensus estimate, while revenue of $4.39 billion also topped forecasts. The stock was reported to be about 1% higher since that earnings release, although analysts are watching whether estimates support continued momentum. General Mills Up 1% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Valuation debate: Commentary suggests the stock’s roughly 38% three-year decline may have reset expectations, but investors still need evidence that General Mills can stabilize its sales base and restore growth. General Mills Stock Seems About Right On Its 38% Slide
• Negative Sentiment: Fundamental and competitive concerns remain: General Mills faces established food giants and agile snack competitors, including Chomps and PepsiCo’s Good Warrior. Revenue in the latest reported quarter declined 2.8% year over year, and commentary questioning the company’s fundamentals could limit investor enthusiasm despite new product launches. 3 Mid-Cap Stocks With Questionable Fundamentals

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company's brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie's, Totino's, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.