Lazard Asset Management LLC Has $14.57 Million Holdings in General Mills, Inc. (NYSE:GIS)

Lazard Asset Management LLC decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 208,233 shares of the company’s stock after selling 7,060 shares during the quarter. Lazard Asset Management LLC’s holdings in General Mills were worth $14,568,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC bought a new stake in General Mills in the 4th quarter valued at $27,000. Rise Advisors LLC boosted its holdings in General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. RFP Financial Group LLC lifted its position in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the period. Finally, Perkins Coie Trust Co raised its stake in General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Barclays decreased their price objective on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. cut their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Wells Fargo & Company cut their price objective on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $68.82.

General Mills Stock Performance

General Mills stock opened at $65.82 on Monday. The business’s 50-day moving average price is $65.84 and its two-hundred day moving average price is $66.55. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.88. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock has a market cap of $36.74 billion, a PE ratio of 15.39, a P/E/G ratio of 3.75 and a beta of 0.09.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.65%. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio is presently 55.68%.

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.