First National Bank of South Miami Lowers Stock Holdings in General Mills, Inc. (NYSE:GIS)

First National Bank of South Miami reduced its position in General Mills, Inc. (NYSE:GIS) by 21.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,500 shares of the company’s stock after selling 1,500 shares during the period. First National Bank of South Miami’s holdings in General Mills were worth $422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of General Mills by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 11,358,325 shares of the company’s stock valued at $951,206,000 after buying an additional 50,601 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after buying an additional 11,067,051 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of General Mills by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after buying an additional 75,902 shares during the period. Morgan Stanley grew its stake in shares of General Mills by 14.6% during the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after buying an additional 1,051,169 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of General Mills by 101.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after buying an additional 3,496,741 shares during the period. 75.31% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of General Mills stock opened at $66.10 on Tuesday. The firm has a market cap of $38.42 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 2.19 and a beta of 0.24. The firm’s 50-day simple moving average is $71.24 and its 200-day simple moving average is $79.46. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.40 and a current ratio of 0.69. General Mills, Inc. has a 1 year low of $64.70 and a 1 year high of $90.89.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.18 billion. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. Equities analysts forecast that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, July 7th. This is an increase from General Mills’s previous quarterly dividend of $0.54. General Mills’s dividend payout ratio is currently 54.76%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of General Mills from $85.00 to $80.00 in a research note on Thursday, June 29th. Wells Fargo & Company lowered their price objective on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, September 7th. TD Cowen assumed coverage on shares of General Mills in a report on Wednesday, September 13th. They set a “market perform” rating and a $70.00 target price on the stock. StockNews.com assumed coverage on shares of General Mills in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $82.00 to $77.00 and set a “hold” rating on the stock in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.11.

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.