General Mills, Inc. (NYSE:GIS) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lessened its stake in General Mills, Inc. (NYSE:GIS) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,155 shares of the company’s stock after selling 2,311 shares during the quarter. AGF Management Ltd.’s holdings in General Mills were worth $2,224,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GIS. Rise Advisors LLC lifted its holdings in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after acquiring an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares in the last quarter. Fortis Group Advisors LLC lifted its holdings in shares of General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares in the last quarter. RFP Financial Group LLC lifted its holdings in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co lifted its holdings in shares of General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GIS. Evercore ISI reduced their target price 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. Bank of America lifted their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday. Stifel Nicolaus dropped their price target on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.07.

General Mills Price Performance

Shares of NYSE:GIS opened at $73.71 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $75.90. The firm has a 50-day simple moving average of $68.73 and a 200 day simple moving average of $68.18. The company has a market cap of $41.03 billion, a PE ratio of 17.10, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

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

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.