Panagora Asset Management Inc. Has $1.38 Million Holdings in General Mills, Inc. $GIS

Panagora Asset Management Inc. decreased its position in General Mills, Inc. (NYSE:GIS) by 50.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,708 shares of the company’s stock after selling 27,345 shares during the quarter. Panagora Asset Management Inc.’s holdings in General Mills were worth $1,384,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. raised its position in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in General Mills during the 2nd quarter worth approximately $32,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills during the 1st quarter worth approximately $34,000. Pingora Partners LLC raised its holdings in shares of General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. Finally, Traub Capital Management LLC acquired a new stake in shares of General Mills in the second quarter valued at approximately $46,000. 75.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of analyst reports. Mizuho decreased their target price on shares of General Mills from $57.00 to $52.00 and set a “neutral” 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 for the company in a research note on Thursday, September 18th. UBS Group lowered their target price on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $55.82.

General Mills Trading Down 0.5%

Shares of NYSE:GIS opened at $45.97 on Friday. General Mills, Inc. has a 52-week low of $45.60 and a 52-week high of $67.35. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The company has a market capitalization of $24.52 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 0.86 and a beta of -0.07. The company has a 50-day simple moving average of $47.92 and a 200 day simple moving average of $50.11.

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

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 9th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $2.44 annualized dividend and a yield of 5.3%. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

About General Mills

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.