SG Americas Securities LLC reduced its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 84.1% during the 2nd quarter, according to the company’s most recent disclosure with the SEC. The institutional investor owned 105,143 shares of the company’s stock after selling 558,060 shares during the quarter. SG Americas Securities LLC’s holdings in General Mills were worth $6,651,000, according to the company’s most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently changed their holdings in the company. QRG Capital Management Inc. increased its stake in shares of General Mills by 4.1% in the second quarter. QRG Capital Management Inc. now owns 356,940 shares of the company’s stock valued at $22,580,000 after buying an additional 13,909 shares in the last quarter. Cardinal Capital Management increased its stake in shares of General Mills by 0.7% in the second quarter. Cardinal Capital Management now owns 115,623 shares of the company’s stock valued at $7,314,000 after buying an additional 856 shares during the same period. Manning & Napier Advisors LLC acquired a new stake in shares of General Mills in the second quarter valued at $13,321,000. BDF Gestion acquired a new stake in shares of General Mills in the second quarter valued at $2,414,000. Finally, Juncture Wealth Strategies LLC acquired a new stake in shares of General Mills in the second quarter valued at $241,000. Institutional investors own 75.71% of the company’s shares.

General Mills shares rise 0.1%

NYSE:GIS rose $0.08 during trading hours on Friday, reaching $69.12. 1,999,644 shares of the company traded hands, compared to its average volume of 4,068,787. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. General Mills, Inc. has a twelve-month low of $60.33 and a twelve-month high of $74.45. The stock’s 50-day moving average price is $65.75 and its 200-day moving average price is $66.87. The company has a market cap of $38.58 billion, a P/E ratio of 16.04, a PEG ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS – Get Free Report) released its last earnings results on Wednesday, June 26. The company reported earnings per share of $1.01 for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the company reported earnings per share of $1.12. The company’s revenue declined 6.3% compared to the same quarter last year. On average, research analysts expect that General Mills, Inc. will report earnings per share of $4.49 for the current fiscal year.

General Mills increases dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1. Shareholders of record on Wednesday, July 10 were paid a dividend of $0.60. This represents a positive change from General Mills’ previous quarterly dividend of $0.59. This represents an annualized dividend of $2.40 and a yield of 3.47%. The ex-dividend date was Wednesday, July 10. General Mills’ dividend payout ratio is currently 55.68%.

Wall Street analysts comment

Several analysts have recently commented on the company. Wells Fargo & Company decreased their price target on General Mills from $70.00 to $67.00 and gave the company an “equal” rating in a report on Thursday, June 27th. Bank of America decreased their price target on General Mills from $70.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Barclays decreased their price target on General Mills from $72.00 to $67.00 and gave the company an “equal” rating in a report on Friday, June 28th. Mizuho decreased their price target on General Mills from $70.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus lowered their price target on General Mills from $77.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 27. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.82.

Our latest analysis on General Mills

Insiders place their bets

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock on Monday, May 13. The shares were 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 approximately $1,227,706.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Insiders own 0.24% of the company’s stock.

General Mills Company Profile

(Free report)

General Mills, Inc. manufactures and distributes branded foods worldwide. The company operates in four segments: Retail North America, International, Pet Foods and Foodservice North America. It offers cereals, ready-to-eat cereals, refrigerated yogurt, soups, meal kits, refrigerated and frozen dough products, dessert and baking mixes, 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 mixes, frozen breakfasts and entrees, nutrition bars and frozen and shelf-stable vegetables.

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