Somerville Kurt F Reduces Stake in General Mills, Inc. (GIS)

Somerville Kurt F cut its stake in General Mills, Inc. (NYSE:GIS) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,566 shares of the company’s stock after selling 4,398 shares during the quarter. Somerville Kurt F’s holdings in General Mills were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIS. Lee Financial Co increased its stake in shares of General Mills by 178.2% in the first quarter. Lee Financial Co now owns 2,504 shares of the company’s stock worth $113,000 after acquiring an additional 1,604 shares during the last quarter. Institutional & Family Asset Management LLC acquired a new position in General Mills during the first quarter worth $115,000. Acadian Asset Management LLC acquired a new position in General Mills during the second quarter worth $115,000. TLP Group LLC increased its position in General Mills by 840.9% during the first quarter. TLP Group LLC now owns 2,992 shares of the company’s stock worth $135,000 after buying an additional 2,674 shares during the last quarter. Finally, American National Bank acquired a new position in General Mills during the second quarter worth $138,000. 71.51% of the stock is currently owned by institutional investors and hedge funds.

GIS stock traded up $0.95 during mid-day trading on Monday, reaching $45.93. 422,780 shares of the stock traded hands, compared to its average volume of 4,136,314. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.56 and a quick ratio of 0.34. General Mills, Inc. has a 52 week low of $41.01 and a 52 week high of $60.69. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.73 and a beta of 0.79.



General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.07. General Mills had a net margin of 13.54% and a return on equity of 35.14%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts expect that General Mills, Inc. will post 3.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Monday, July 9th. General Mills’s dividend payout ratio (DPR) is 63.02%.

In other General Mills news, insider Shawn P. Ogrady sold 82,244 shares of the company’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $45.50, for a total transaction of $3,742,102.00. Following the completion of the sale, the insider now directly owns 187,948 shares in the company, valued at $8,551,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline Williams-Roll sold 2,450 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $43.23, for a total transaction of $105,913.50. Following the sale, the insider now owns 39,074 shares of the company’s stock, valued at $1,689,169.02. The disclosure for this sale can be found here. Insiders have sold 142,614 shares of company stock valued at $6,406,124 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Several equities analysts have commented on the stock. Piper Jaffray Companies set a $45.00 target price on shares of General Mills and gave the stock a “hold” rating in a research report on Tuesday, June 5th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Sanford C. Bernstein reissued a “sell” rating on shares of General Mills in a research report on Tuesday, July 10th. TheStreet downgraded shares of General Mills from a “b-” rating to a “c+” rating in a research report on Monday, April 2nd. Finally, Susquehanna Bancshares set a $50.00 target price on shares of General Mills and gave the stock a “buy” rating in a research report on Monday, May 21st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.71.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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