Studio Investment Management LLC Sells 7,239 Shares of General Mills, Inc. $GIS

Studio Investment Management LLC lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,723 shares of the company’s stock after selling 7,239 shares during the quarter. Studio Investment Management LLC’s holdings in General Mills were worth $2,887,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GIS. Garde Capital Inc. grew its holdings in General Mills by 101.5% during the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after acquiring an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of General Mills in the 2nd quarter valued at about $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills in the 1st quarter valued at about $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of General Mills in the 1st quarter valued at about $37,000. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE:GIS opened at $48.59 on Wednesday. The company has a market capitalization of $25.92 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.23 and a beta of -0.03. The firm’s 50 day simple moving average is $49.62 and its 200 day simple moving average is $52.16. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a fifty-two week low of $47.48 and a fifty-two week high of $69.24.

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, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, October 10th. General Mills’s dividend payout ratio (DPR) is 46.12%.

Analyst Upgrades and Downgrades

GIS has been the topic of several recent research reports. Bernstein Bank reduced their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of General Mills in a research note on Wednesday, October 8th. Bank of America reduced their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Morgan Stanley reduced their target price 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. Finally, HSBC reduced their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average price target of $55.82.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

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.