Mizuho Securities USA LLC Has $2.64 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Key Points

• Mizuho Securities USA LLC reduced its stake in General Mills, Inc. by 16.1%, selling 8,479 shares during the first quarter, bringing their total holdings to 44,137 shares valued at $2.639 million.
• General Mills recently announced a quarterly dividend increase from $0.60 to $0.61 per share, indicating a respectable annualized yield of 4.9%.
• Wall Street analysts have mixed opinions on General Mills, with a current consensus rating of "Hold" and a price target averaging $59.73, reflecting differing expectations about the company's performance.

Mizuho Securities USA LLC trimmed its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,137 shares of the company's stock after selling 8,479 shares during the period. Mizuho Securities USA LLC's holdings in General Mills were worth $2,639,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Benjamin Edwards Inc. raised its position in shares of General Mills by 0.4% in the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company's stock valued at $3,127,000 after purchasing an additional 185 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in General Mills by 61.6% during the 1st quarter. Frank Rimerman Advisors LLC now owns 8,261 shares of the company's stock valued at $494,000 after purchasing an additional 3,149 shares during the period. Zions Bancorporation National Association UT acquired a new position in General Mills during the 1st quarter worth $70,000. Townsquare Capital LLC boosted its position in General Mills by 8.6% during the 1st quarter. Townsquare Capital LLC now owns 81,372 shares of the company's stock worth $4,865,000 after acquiring an additional 6,435 shares during the period. Finally, Morton Community Bank boosted its position in General Mills by 2.4% during the 1st quarter. Morton Community Bank now owns 40,729 shares of the company's stock worth $2,435,000 after acquiring an additional 945 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 0.3%

GIS stock traded down $0.13 during mid-day trading on Tuesday, hitting $49.22. The stock had a trading volume of 6,276,646 shares, compared to its average volume of 5,285,617. 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, Inc. has a 1-year low of $48.59 and a 1-year high of $75.90. The company has a fifty day moving average of $51.61 and a 200 day moving average of $55.75. The stock has a market capitalization of $26.70 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.24 and a beta of -0.01.

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. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. On average, equities analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business 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 represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's payout ratio is currently 59.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GIS shares. UBS Group reduced their target price on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Morgan Stanley reissued an "underweight" rating and issued a $51.00 price objective (down from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Barclays reduced their price objective on 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. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Finally, Stifel Nicolaus reduced their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, General Mills presently has an average rating of "Hold" and an average price target of $59.73.

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.