General Mills, Inc. $GIS Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. reduced its position in General Mills, Inc. (NYSE:GIS) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 50,540 shares of the company’s stock after selling 1,459 shares during the quarter. General Mills makes up approximately 1.7% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 25th biggest position. Palouse Capital Management Inc.’s holdings in General Mills were worth $2,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of General Mills in the first quarter valued at about $279,570,000. Pacer Advisors Inc. grew its position in General Mills by 4,775.2% in the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after acquiring an additional 3,373,338 shares in the last quarter. Nuveen LLC acquired a new position in shares of General Mills during the first quarter worth $92,717,000. Finally, Federated Hermes Inc. grew its holdings in General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock valued at $90,908,000 after purchasing an additional 973,798 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s 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 sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

General Mills Stock Down 1.4%

General Mills stock opened at $46.23 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a one year low of $45.80 and a one year high of $67.40. The company has a 50-day simple moving average of $48.96 and a 200-day simple moving average of $51.05. The firm has a market capitalization of $24.66 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.17 and a beta of -0.04.

General Mills (NYSE:GIS) last announced its 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 firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, equities analysts expect 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 was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft lowered their target price on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Barclays decreased their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, September 19th. Bernstein Bank reduced their price objective on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group reduced their target price on General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.82.

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.