Maltin Wealth Management Inc. Lowers Stake in General Mills, Inc. (NYSE:GIS)

Maltin Wealth Management Inc. lowered its position in General Mills, Inc. (NYSE:GIS) by 74.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,001 shares of the company’s stock after selling 8,743 shares during the quarter. Maltin Wealth Management Inc.’s holdings in General Mills were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. Cibc World Market Inc. boosted its position in General Mills by 4.8% during the 1st quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock valued at $1,492,000 after buying an additional 1,003 shares during the period. Sequoia Financial Advisors LLC boosted its stake in General Mills by 45.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock worth $397,000 after acquiring an additional 1,828 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in General Mills by 2.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock worth $4,955,000 after acquiring an additional 1,503 shares in the last quarter. Baird Financial Group Inc. raised its holdings in General Mills by 2.3% in the first quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after buying an additional 6,176 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of General Mills by 15.3% in the first quarter. Covestor Ltd now owns 1,834 shares of the company’s stock worth $124,000 after purchasing an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 75.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus cut their price objective on General Mills from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, September 7th. BNP Paribas downgraded General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research report on Tuesday, September 5th. TD Cowen began coverage on shares of General Mills in a report on Wednesday, September 13th. They issued a “market perform” rating and a $70.00 target price on the stock. Bank of America decreased their target price on General Mills from $82.00 to $72.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 23rd. Finally, Morgan Stanley lowered their price objective on shares of General Mills from $77.00 to $72.00 in a research report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.21.

General Mills Trading Down 1.0 %

GIS traded down $0.64 during trading on Monday, hitting $65.21. 993,699 shares of the stock were exchanged, compared to its average volume of 3,495,108. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.40 and a current ratio of 0.69. The firm has a 50 day simple moving average of $71.24 and a 200 day simple moving average of $79.46. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 2.21 and a beta of 0.24. General Mills, Inc. has a 1 year low of $64.70 and a 1 year high of $90.89.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.05. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $5.18 billion. General Mills had a return on equity of 24.47% and a net margin of 12.91%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.48 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 3.62%. The ex-dividend date was Friday, July 7th. General Mills’s payout ratio is currently 54.76%.

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.