Vestcor Inc Has $9.55 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Key Points

• Vestcor Inc has reduced its stake in General Mills by 4.8%, selling 8,114 shares and retaining 159,699 shares worth $9,548,000 as of the latest filing.
• General Mills announced a quarterly dividend increase to $0.61 per share, representing a yield of 4.88%, to be paid on August 1st to shareholders of record on July 10th.
• Wall Street analysts' ratings for General Mills vary, with three analysts

Vestcor Inc trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 159,699 shares of the company's stock after selling 8,114 shares during the period. Vestcor Inc's holdings in General Mills were worth $9,548,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GIS. Transce3nd LLC bought a new position in General Mills in the 4th quarter valued at about $32,000. Perkins Coie Trust Co grew its position in General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after buying an additional 211 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in General Mills in the 1st quarter valued at about $34,000. Strategic Investment Solutions Inc. IL grew its position in General Mills by 1,096.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock valued at $39,000 after buying an additional 548 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of General Mills during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Down 0.1%

Shares of GIS stock traded down $0.04 during trading on Friday, hitting $48.94. 5,271,208 shares of the company were exchanged, compared to its average volume of 5,488,978. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a market capitalization of $26.55 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.23 and a beta of -0.01. The business's 50-day simple moving average is $52.33 and its 200 day simple moving average is $56.33. General Mills, Inc. has a twelve month low of $48.59 and a twelve month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly 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. The business had revenue of $4.56 billion during 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 firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. As a group, analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a dividend of $0.61 per share. This is an increase from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Thursday, July 10th. General Mills's dividend payout ratio is 59.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Bank of America reduced their price objective 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. Morgan Stanley restated an "underweight" rating and set a $51.00 price objective (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Finally, Wall Street Zen lowered shares of General Mills from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.