Marco Investment Management LLC Sells 788 Shares of General Mills, Inc. (NYSE:GIS)

Marco Investment Management LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 3.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,900 shares of the company’s stock after selling 788 shares during the period. Marco Investment Management LLC’s holdings in General Mills were worth $1,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Norges Bank bought a new position in shares of General Mills during the fourth quarter worth $377,205,000. Capital Research Global Investors grew its stake in General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after acquiring an additional 2,488,341 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in General Mills by 106.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after acquiring an additional 1,778,345 shares in the last quarter. Finally, Swedbank AB bought a new stake in General Mills in the 1st quarter valued at $36,177,000. 75.71% of the stock is owned by institutional investors.

General Mills Trading Down 0.4 %

GIS stock opened at $74.83 on Wednesday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $75.90. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 4.25 and a beta of 0.10. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The firm’s fifty day simple moving average is $68.11 and its two-hundred day simple moving average is $68.02.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion for 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%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. As a group, analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America dropped their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Evercore ISI dropped their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group began coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Citigroup decreased their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Stifel Nicolaus cut their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.