General Mills, Inc. (NYSE:GIS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,897,196 shares of the company's stock after selling 107,581 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.71% of General Mills worth $233,013,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Perpetual Ltd grew its holdings in shares of General Mills by 3.5% in the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company's stock valued at $324,000 after buying an additional 184 shares during the period. Conning Inc. boosted its stake in General Mills by 4.6% in the 1st quarter. Conning Inc. now owns 4,212 shares of the company's stock worth $252,000 after purchasing an additional 185 shares during the period. Fairscale Capital LLC boosted its stake in General Mills by 30.2% in the 4th quarter. Fairscale Capital LLC now owns 871 shares of the company's stock worth $56,000 after purchasing an additional 202 shares during the period. City Center Advisors LLC boosted its stake in General Mills by 3.4% in the 1st quarter. City Center Advisors LLC now owns 6,071 shares of the company's stock worth $363,000 after purchasing an additional 202 shares during the period. Finally, Security National Bank of SO Dak boosted its stake in General Mills by 0.7% in the 4th quarter. Security National Bank of SO Dak now owns 31,290 shares of the company's stock worth $1,995,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Down 2.6%

General Mills stock opened at $51.79 on Tuesday. The stock has a market cap of $28.09 billion and a P/E ratio of 12.63. 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, Inc. has a twelve month low of $50.19 and a twelve month high of $75.90. The company's 50-day moving average price is $53.85 and its two-hundred day moving average price is $57.75.

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

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.61 per share. 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. This represents a $2.44 annualized dividend and a dividend yield of 4.71%. General Mills's dividend payout ratio (DPR) is currently 59.51%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research note on Thursday, June 26th. Stifel Nicolaus reduced their price objective on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Barclays reduced their price objective on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, June 26th. Bank of America reduced their price objective on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Jefferies Financial Group increased their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $59.73.

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.

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