Sumitomo Mitsui Financial Group Inc. Has $1.20 Million Position in General Mills, Inc. $GIS

Sumitomo Mitsui Financial Group Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 18.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 20,121 shares of the company’s stock after selling 4,466 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in General Mills were worth $1,203,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Financial Advisors Network Inc. grew its position in General Mills by 79.0% during the first quarter. Financial Advisors Network Inc. now owns 9,540 shares of the company’s stock worth $570,000 after buying an additional 4,211 shares in the last quarter. Quantbot Technologies LP grew its position in General Mills by 978.0% during the first quarter. Quantbot Technologies LP now owns 134,914 shares of the company’s stock worth $8,067,000 after buying an additional 122,399 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of General Mills by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 34,390 shares of the company’s stock valued at $2,056,000 after purchasing an additional 1,469 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of General Mills by 6.4% in the 1st quarter. Aptus Capital Advisors LLC now owns 30,969 shares of the company’s stock valued at $1,852,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in shares of General Mills by 6.8% in the 1st quarter. Freestone Capital Holdings LLC now owns 58,492 shares of the company’s stock valued at $3,497,000 after purchasing an additional 3,704 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.7%

Shares of NYSE:GIS opened at $49.31 on Tuesday. The firm has a market cap of $26.75 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.25 and a beta of -0.01. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 12-month low of $48.59 and a 12-month high of $75.90. The business has a fifty day simple moving average of $51.20 and a 200 day simple moving average of $55.41.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. General Mills’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Thursday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.60. General Mills’s dividend payout ratio is currently 59.51%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on General Mills from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, June 26th. UBS Group reduced their target price on General Mills from $52.00 to $49.00 and set a “sell” rating on the stock in a report on Thursday, June 26th. Stifel Nicolaus reduced their target price on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and reduced their target price for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $59.73.

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.