Sheets Smith Wealth Management Reduces Position in General Mills, Inc. (NYSE:GIS)

Sheets Smith Wealth Management lessened its stake in General Mills, Inc. (NYSE:GIS) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,102 shares of the company’s stock after selling 895 shares during the quarter. General Mills comprises about 1.2% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 18th largest holding. Sheets Smith Wealth Management’s holdings in General Mills were worth $5,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Bragg Financial Advisors Inc increased its stake in shares of General Mills by 1.0% during the first quarter. Bragg Financial Advisors Inc now owns 36,123 shares of the company’s stock worth $1,869,000 after purchasing an additional 345 shares during the period. Actinver Wealth Management Inc. acquired a new stake in shares of General Mills during the 4th quarter valued at $991,000. Two Sigma Advisers LP boosted its holdings in shares of General Mills by 24.1% during the 4th quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock valued at $34,957,000 after acquiring an additional 174,157 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of General Mills by 58.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 161,292 shares of the company’s stock valued at $8,347,000 after acquiring an additional 59,204 shares in the last quarter. Finally, Private Ocean LLC boosted its holdings in shares of General Mills by 585.4% during the 1st quarter. Private Ocean LLC now owns 1,405 shares of the company’s stock valued at $73,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.

General Mills stock traded up $0.30 during trading on Friday, hitting $52.52. The stock had a trading volume of 5,817,523 shares, compared to its average volume of 4,550,218. The company’s 50 day moving average price is $52.11. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.35 and a current ratio of 0.59. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $54.39. The firm has a market cap of $31.17 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 2.18 and a beta of 0.75.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, sell-side analysts predict that General Mills, Inc. will post 3.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.73%. General Mills’s dividend payout ratio is presently 60.87%.

Several equities research analysts recently weighed in on GIS shares. ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Deutsche Bank raised General Mills from a “hold” rating to a “buy” rating and lifted their target price for the stock from $43.00 to $54.00 in a report on Thursday, March 14th. TheStreet raised General Mills from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Credit Suisse Group lifted their target price on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, Bank of America reaffirmed a “neutral” rating and set a $49.00 target price on shares of General Mills in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and an average price target of $51.10.

In other General Mills news, Director R Kerry Clark sold 14,836 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the completion of the sale, the director now directly owns 62,211 shares in the company, valued at $3,208,221.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John R. Church sold 4,719 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the sale, the insider now owns 34,112 shares of the company’s stock, valued at $1,732,207.36. The disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.

General Mills Company 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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