Lynch & Associates IN Has $2.36 Million Position in General Mills, Inc. (NYSE:GIS)

Lynch & Associates IN lifted its stake in General Mills, Inc. (NYSE:GIS) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,312 shares of the company’s stock after acquiring an additional 3,173 shares during the quarter. Lynch & Associates IN’s holdings in General Mills were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of General Mills by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after acquiring an additional 539 shares in the last quarter. Aveo Capital Partners LLC acquired a new stake in General Mills in the 4th quarter worth approximately $213,000. Principal Securities Inc. bought a new stake in General Mills during the fourth quarter worth approximately $829,000. Lebenthal Global Advisors LLC acquired a new position in General Mills during the fourth quarter valued at approximately $216,000. Finally, Northwest Financial Advisors bought a new position in shares of General Mills in the fourth quarter valued at approximately $45,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 0.7 %

Shares of NYSE GIS opened at $75.06 on Friday. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.54. The firm’s 50-day simple moving average is $67.64 and its 200 day simple moving average is $67.86. 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 company has a market cap of $41.89 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 4.09 and a beta of 0.10.

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

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.20%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GIS. Evercore ISI lowered their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Wells Fargo & Company cut their price objective on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Citigroup cut their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.07.

General Mills Company 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.