Hamel Associates Inc. Has $1.67 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Hamel Associates Inc. trimmed its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 42.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,945 shares of the company's stock after selling 20,962 shares during the quarter. Hamel Associates Inc.'s holdings in General Mills were worth $1,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in General Mills in the 4th quarter valued at about $798,000. Sei Investments Co. boosted its holdings in shares of General Mills by 8.7% in the fourth quarter. Sei Investments Co. now owns 414,806 shares of the company's stock valued at $26,453,000 after acquiring an additional 33,292 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of General Mills by 2.6% in the fourth quarter. LPL Financial LLC now owns 808,678 shares of the company's stock valued at $51,569,000 after acquiring an additional 20,734 shares in the last quarter. Modern Wealth Management LLC increased its stake in shares of General Mills by 17.4% during the fourth quarter. Modern Wealth Management LLC now owns 4,524 shares of the company's stock valued at $263,000 after acquiring an additional 672 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in General Mills by 1.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,968 shares of the company's stock worth $1,465,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GIS. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Wall Street Zen cut shares of General Mills from a "hold" rating to a "sell" rating in a report on Saturday. Bank of America reduced their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, Stifel Nicolaus reduced their target price on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, General Mills has an average rating of "Hold" and a consensus price target of $59.73.

General Mills Stock Down 1.9%

NYSE:GIS traded down $0.97 during trading hours on Monday, reaching $50.10. The company's stock had a trading volume of 2,468,407 shares, compared to its average volume of 5,581,382. General Mills, Inc. has a one year low of $49.04 and a one year high of $75.90. The business's 50-day moving average is $52.69 and its 200-day moving average is $56.56. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The company has a market cap of $27.17 billion and a price-to-earnings ratio of 12.23.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The business 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 firm posted $1.01 EPS. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

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

About General Mills

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.