Sachetta LLC Has $109,000 Stake in General Mills, Inc. (NYSE:GIS)

Sachetta LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,586 shares of the company’s stock after selling 206 shares during the period. Sachetta LLC’s holdings in General Mills were worth $109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arkadios Wealth Advisors increased its stake in General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares during the last quarter. Optimist Retirement Group LLC acquired a new stake in General Mills in the 4th quarter valued at $1,171,000. State Board of Administration of Florida Retirement System increased its stake in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after buying an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after buying an additional 96,712 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA increased its stake in General Mills by 164.1% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after buying an additional 11,298 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of GIS stock opened at $74.83 on Wednesday. The company has a market capitalization of $41.65 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 4.25 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a 50-day simple moving average of $68.11 and a 200 day simple moving average of $68.02. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90.

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

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.21%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 55.68%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GIS. Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Evercore ISI lowered their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Bank of America lowered their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Mizuho lowered their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.07.

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.