Wealthfront Advisers LLC Cuts Stock Holdings in General Mills, Inc. (NYSE:GIS)

Wealthfront Advisers LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,023 shares of the company's stock after selling 24,582 shares during the quarter. Wealthfront Advisers LLC's holdings in General Mills were worth $6,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Perkins Coie Trust Co lifted its holdings in shares of General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of General Mills in the fourth quarter worth about $32,000. Transce3nd LLC bought a new position in shares of General Mills in the fourth quarter worth about $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills in the first quarter worth about $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Mills in the fourth quarter worth about $38,000. Institutional investors own 75.71% of the company's stock.

Analyst Ratings Changes

GIS has been the subject of a number of research reports. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Stifel Nicolaus dropped their price objective on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Bank of America dropped their price objective on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a report 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 given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $59.73.

General Mills Stock Down 0.3%

NYSE:GIS traded down $0.16 during trading hours on Friday, hitting $50.13. 4,325,880 shares of the company traded hands, compared to its average volume of 4,736,611. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The firm's 50-day simple moving average is $53.05 and its 200-day simple moving average is $57.03. General Mills, Inc. has a one year low of $49.62 and a one year high of $75.90. The company has a market cap of $27.19 billion and a PE ratio of 12.23.

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

General Mills Increases Dividend

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

General Mills 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.