Greenwood Capital Associates LLC Has $1.09 Million Holdings in General Mills, Inc. $GIS

Greenwood Capital Associates LLC reduced its position in General Mills, Inc. (NYSE:GIS) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,070 shares of the company’s stock after selling 258 shares during the quarter. Greenwood Capital Associates LLC’s holdings in General Mills were worth $1,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GIS. Garde Capital Inc. lifted its stake in General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Perkins Coie Trust Co raised its holdings in shares of General Mills by 69.2% during 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 in the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of General Mills during the 2nd quarter worth $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the 1st quarter worth $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of General Mills during the 1st quarter worth $34,000. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 target price (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Morgan Stanley reduced their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, September 15th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, HSBC lowered their price target on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.82.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

General Mills Price Performance

Shares of NYSE:GIS opened at $50.38 on Friday. The firm has a market cap of $26.87 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03. The firm’s fifty day moving average is $49.73 and its 200-day moving average is $53.05. 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 52 week low of $48.29 and a 52 week high of $73.78.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. General Mills’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. General Mills’s dividend payout ratio is presently 46.12%.

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.