Tocqueville Asset Management L.P. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,893 shares of the company’s stock after selling 1,002 shares during the period. Tocqueville Asset Management L.P.’s holdings in General Mills were worth $2,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Flossbach Von Storch AG acquired a new position in General Mills during the second quarter worth approximately $227,578,000. Morgan Stanley increased its holdings in shares of General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after purchasing an additional 1,603,577 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after purchasing an additional 1,449,632 shares during the period. Renaissance Technologies LLC increased its holdings in shares of General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after purchasing an additional 1,190,200 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of General Mills by 17.0% in the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after purchasing an additional 660,726 shares during the period. 70.45% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on GIS. Royal Bank Of Canada dropped their target price on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, June 29th. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG reissued a “neutral” rating and issued a $58.00 target price (down previously from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Wells Fargo & Company dropped their target price on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus price target of $56.75.

COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/general-mills-inc-gis-shares-sold-by-tocqueville-asset-management-l-p/1611690.html.

General Mills, Inc. (NYSE GIS) opened at 52.09 on Friday. General Mills, Inc. has a one year low of $50.40 and a one year high of $64.06. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 18.66 and a beta of 0.61. The company’s 50-day moving average price is $54.22 and its 200-day moving average price is $56.06.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.

About General Mills

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.