Retirement Planning Co of New England Inc. Raises Stake in General Mills, Inc. (NYSE:GIS)

Retirement Planning Co of New England Inc. boosted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 146.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,205 shares of the company's stock after purchasing an additional 7,250 shares during the quarter. Retirement Planning Co of New England Inc.'s holdings in General Mills were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GIS. Transce3nd LLC bought a new position in shares of General Mills in the 4th quarter worth $32,000. VSM Wealth Advisory LLC bought a new position in shares of General Mills in the 4th quarter worth $32,000. Perkins Coie Trust Co increased its holdings in shares of General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after buying an additional 211 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills in the 1st quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL increased its holdings in shares of General Mills by 1,096.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock worth $39,000 after buying an additional 548 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Down 0.3%

GIS traded down $0.16 during trading on Friday, hitting $50.13. 4,325,880 shares of the stock traded hands, compared to its average volume of 4,729,649. The firm has a market capitalization of $27.19 billion and a P/E ratio of 12.23. 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 firm has a 50-day moving average of $53.14 and a 200 day moving average of $57.12. General Mills, Inc. has a 12-month low of $49.62 and a 12-month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.60 billion. During the same period last year, the company posted $1.01 EPS. The company's quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.87%. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. General Mills's dividend payout ratio (DPR) is currently 59.51%.

Wall Street Analyst Weigh In

GIS has been the topic of several recent research reports. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their target price for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Bank of America reduced their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Barclays reduced their target price on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, June 26th. JPMorgan Chase & Co. reduced their target price on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Finally, Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average 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.