TIAA Trust National Association Trims Stock Holdings in General Mills, Inc. (NYSE:GIS)

TIAA Trust National Association reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,252 shares of the company’s stock after selling 4,168 shares during the quarter. TIAA Trust National Association’s holdings in General Mills were worth $2,673,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Arkadios Wealth Advisors grew its holdings in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC bought a new stake in General Mills during the 4th quarter worth approximately $1,171,000. State Board of Administration of Florida Retirement System lifted its stake in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in shares of General Mills by 122.7% in the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock worth $1,542,000 after purchasing an additional 13,043 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America reduced their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Citigroup decreased their price objective on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Stifel Nicolaus dropped their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Evercore ISI decreased their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Finally, Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.71.

General Mills Price Performance

GIS opened at $73.58 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The stock’s 50 day simple moving average is $67.19 and its 200 day simple moving average is $67.73. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 4.09 and a beta of 0.09. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $74.45.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, analysts predict that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

General Mills 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.