Prime Capital Investment Advisors LLC Cuts Stock Position in General Mills, Inc. $GIS

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in General Mills, Inc. by 24.4% during the second quarter, holding 27,875 shares valued at approximately $1.44 million after selling nearly 9,000 shares.
• General Mills reported earnings of $0.86 per share, exceeding expectations, but its quarterly revenue saw a 6.8% decline compared to the previous year.
• The company announced a quarterly dividend of $0.61 per share, with a yield of 4.9%, underscoring its ongoing commitment to returning value to shareholders.

Prime Capital Investment Advisors LLC trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 24.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,875 shares of the company's stock after selling 8,991 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in General Mills were worth $1,444,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Advisors Inc. OK lifted its holdings in General Mills by 25.4% during the second quarter. Capital Advisors Inc. OK now owns 572,870 shares of the company's stock valued at $29,680,000 after purchasing an additional 115,954 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of General Mills by 38.1% during the 2nd quarter. Belpointe Asset Management LLC now owns 24,960 shares of the company's stock worth $1,293,000 after purchasing an additional 6,880 shares during the last quarter. Eads & Heald Wealth Management lifted its stake in General Mills by 8.5% in the 2nd quarter. Eads & Heald Wealth Management now owns 10,995 shares of the company's stock valued at $570,000 after buying an additional 865 shares in the last quarter. Autumn Glory Partners LLC boosted its holdings in General Mills by 20.1% in the 2nd quarter. Autumn Glory Partners LLC now owns 4,595 shares of the company's stock worth $238,000 after buying an additional 770 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its stake in General Mills by 37.2% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 14,144 shares of the company's stock worth $733,000 after buying an additional 3,832 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Price Performance

General Mills stock opened at $49.76 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $49.77 and a 200 day moving average price of $52.87. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $72.71. The stock has a market cap of $26.54 billion, a P/E ratio of 9.41, a PEG ratio of 1.29 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. General Mills's payout ratio is currently 46.12%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho decreased their target price on General Mills from $57.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, September 19th. Jefferies Financial Group decreased their price objective on General Mills from $51.00 to $50.00 and set a "hold" rating on the stock in a report on Monday, September 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of General Mills in a report on Wednesday. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Finally, Bank of America lowered their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.82.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the transaction, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.

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