General Mills, Inc. (NYSE:GIS) Stock Holdings Cut by MJP Associates Inc. ADV

MJP Associates Inc. ADV lessened its position in General Mills, Inc. (NYSE:GIS) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,797 shares of the company’s stock after selling 602 shares during the period. MJP Associates Inc. ADV’s holdings in General Mills were worth $521,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GIS. Cibc World Market Inc. raised its holdings in shares of General Mills by 4.8% in the 1st quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,003 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of General Mills by 45.3% in the first quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock valued at $397,000 after buying an additional 1,828 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of General Mills by 2.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock valued at $4,955,000 after acquiring an additional 1,503 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of General Mills by 2.3% during the 1st quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after acquiring an additional 6,176 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of General Mills by 15.3% in the 1st quarter. Covestor Ltd now owns 1,834 shares of the company’s stock worth $124,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 75.31% of the company’s stock.

General Mills Stock Down 0.4 %

Shares of NYSE:GIS traded down $0.24 on Monday, reaching $65.61. The company had a trading volume of 1,435,592 shares, compared to its average volume of 3,497,733. The stock has a market capitalization of $38.13 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.21 and a beta of 0.24. The stock has a 50-day moving average price of $71.24 and a 200 day moving average price of $79.46. General Mills, Inc. has a twelve month low of $64.70 and a twelve month high of $90.89. The company has a quick ratio of 0.40, a current ratio of 0.69 and a debt-to-equity ratio of 0.93.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. General Mills had a return on equity of 24.47% and a net margin of 12.91%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that General Mills, Inc. will post 4.48 EPS for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.59 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, July 7th. This represents a $2.36 dividend on an annualized basis and a yield of 3.60%. General Mills’s payout ratio is currently 54.76%.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of recent analyst reports. 888 reiterated a “maintains” rating on shares of General Mills in a research report on Thursday, June 29th. TD Cowen started coverage on shares of General Mills in a research report on Wednesday, September 13th. They issued a “market perform” rating and a $70.00 target price on the stock. Argus upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Friday, July 14th. BNP Paribas downgraded shares of General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Tuesday, September 5th. Finally, Piper Sandler decreased their target price on General Mills from $88.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.21.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.