NBC Securities Inc. Has $1.30 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

NBC Securities Inc. decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 20,518 shares of the company’s stock after selling 733 shares during the period. NBC Securities Inc.’s holdings in General Mills were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in GIS. Vanguard Group Inc. lifted its holdings in General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the last quarter. Norges Bank acquired a new stake in General Mills during the 4th quarter valued at $377,205,000. Capital Research Global Investors lifted its holdings in General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in General Mills by 106.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after purchasing an additional 1,778,345 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in General Mills by 165.6% during the 4th quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock valued at $68,381,000 after purchasing an additional 654,550 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

General Mills Price Performance

General Mills stock traded up $0.17 during midday trading on Thursday, reaching $69.02. The company’s stock had a trading volume of 1,449,990 shares, compared to its average volume of 4,075,882. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $74.45. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $65.69 and a 200-day moving average price of $66.80. The stock has a market cap of $38.52 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09.

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

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 55.68%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GIS shares. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and raised their price target for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Stifel Nicolaus dropped their target price on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Argus reissued a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and an average price target of $68.82.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.