Jensen Investment Management Inc. Sells 7,970 Shares of General Mills, Inc. (NYSE:GIS)

Key Points

• Jensen Investment Management Inc. reduced its stake in General Mills, Inc. by 6.1%, selling 7,970 shares and owning 122,745 shares valued at $7.34 million at the end of the recent quarter.
• General Mills announced an increase in its quarterly dividend to $0.61 per share, marking a 5.0% dividend yield and reflecting the company's stable financial performance.
• Despite beating EPS expectations with $0.74, General Mills reported a 3.3% decline in quarterly revenue compared to the previous year, indicating potential challenges ahead.

Jensen Investment Management Inc. decreased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 6.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 122,745 shares of the company's stock after selling 7,970 shares during the period. Jensen Investment Management Inc.'s holdings in General Mills were worth $7,339,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Perpetual Ltd raised its position in shares of General Mills by 3.5% during the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company's stock valued at $324,000 after purchasing an additional 184 shares during the period. Conning Inc. increased 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 buying an additional 185 shares in the last quarter. Eastern Bank raised its holdings in General Mills by 0.8% during the first quarter. Eastern Bank now owns 24,817 shares of the company's stock valued at $1,484,000 after acquiring an additional 186 shares during the period. SPC Financial Inc. raised its holdings in General Mills by 1.5% during the first quarter. SPC Financial Inc. now owns 13,452 shares of the company's stock valued at $804,000 after acquiring an additional 193 shares during the period. Finally, City Center Advisors LLC lifted its position in shares of General Mills by 3.4% in the first quarter. City Center Advisors LLC now owns 6,071 shares of the company's stock valued at $363,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 75.71% of the company's stock.

Analysts Set New Price Targets

GIS has been the subject of several research analyst reports. Morgan Stanley reiterated an "underweight" rating and set a $51.00 target price (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and cut their target price for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Stifel Nicolaus decreased their price target on shares of 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, UBS Group dropped their price objective on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $59.73.

General Mills Trading Up 1.7%

Shares of NYSE GIS traded up $0.82 during trading hours on Thursday, hitting $50.13. 5,571,904 shares of the company traded hands, compared to its average volume of 5,451,605. The company's 50 day moving average price is $51.90 and its 200 day moving average price is $55.99. General Mills, Inc. has a 12 month low of $48.59 and a 12 month high of $75.90. The stock has a market capitalization of $27.19 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.24 and a beta of -0.01. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38.

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

General Mills Increases Dividend

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