Beese Fulmer Investment Management Inc. Sells 512 Shares of General Mills, Inc. (NYSE:GIS)

Beese Fulmer Investment Management Inc. reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,853 shares of the company’s stock after selling 512 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in General Mills were worth $1,753,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Clarius Group LLC increased its stake in General Mills by 1.6% in the 1st quarter. Clarius Group LLC now owns 7,437 shares of the company’s stock worth $636,000 after buying an additional 115 shares in the last quarter. Evoke Wealth LLC grew its position in shares of General Mills by 2.0% during the first quarter. Evoke Wealth LLC now owns 5,737 shares of the company’s stock valued at $490,000 after purchasing an additional 115 shares in the last quarter. Colonial Trust Advisors grew its position in shares of General Mills by 1.6% during the first quarter. Colonial Trust Advisors now owns 8,142 shares of the company’s stock valued at $696,000 after purchasing an additional 126 shares in the last quarter. IHT Wealth Management LLC grew its position in shares of General Mills by 2.2% during the first quarter. IHT Wealth Management LLC now owns 5,817 shares of the company’s stock valued at $497,000 after purchasing an additional 126 shares in the last quarter. Finally, Wayfinding Financial LLC grew its position in shares of General Mills by 4.3% during the first quarter. Wayfinding Financial LLC now owns 3,159 shares of the company’s stock valued at $269,000 after purchasing an additional 129 shares in the last quarter. 75.31% of the stock is currently owned by institutional investors.

General Mills Stock Down 0.8 %

GIS stock traded down $0.51 during trading on Friday, hitting $65.85. 7,635,659 shares of the company’s stock traded hands, compared to its average volume of 3,509,865. The business has a fifty day simple moving average of $71.24 and a two-hundred day simple moving average of $79.45. 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, Inc. has a 1 year low of $64.70 and a 1 year high of $90.89. The firm has a market capitalization of $38.27 billion, a P/E ratio of 15.28, a PEG ratio of 2.17 and a beta of 0.24.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.05. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.59 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Friday, July 7th. General Mills’s payout ratio is currently 54.76%.

Analysts Set New Price Targets

A number of brokerages recently commented on GIS. Stifel Nicolaus lowered their price target on shares of General Mills from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, September 7th. JPMorgan Chase & Co. decreased their price objective on shares of General Mills from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, August 21st. Evercore ISI decreased their price objective on shares of General Mills from $85.00 to $80.00 in a research note on Thursday, June 29th. 888 reissued a “maintains” rating on shares of General Mills in a research note on Thursday, June 29th. Finally, TD Cowen began coverage on shares of General Mills in a research note on Wednesday. They issued a “market perform” rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.79.

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.