Viewpoint Capital Management LLC Sells 200 Shares of General Mills, Inc. (NYSE:GIS)

Viewpoint Capital Management LLC trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,364 shares of the company’s stock after selling 200 shares during the quarter. Viewpoint Capital Management LLC’s holdings in General Mills were worth $560,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIS. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $30,000. Perkins Coie Trust Co lifted its position in shares of General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $32,000. Transce3nd LLC acquired a new position in shares of General Mills during the 4th quarter valued at $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GIS. Bank of America dropped their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Royal Bank Of Canada upgraded shares of General Mills from a “sector perform” rating to an “outperform” rating and dropped their target price for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. The Goldman Sachs Group downgraded shares of General Mills from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $58.00 in a research report on Monday, June 9th. UBS Group dropped their target price on shares of General Mills from $52.00 to $49.00 and set a “sell” rating on the stock in a research report on Thursday, June 26th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $51.00 target price (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.73.

General Mills Stock Performance

Shares of GIS stock opened at $53.13 on Friday. The firm has a 50-day moving average of $53.93 and a 200-day moving average of $57.87. The company has a market cap of $28.82 billion and a P/E ratio of 12.96. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. General Mills, Inc. has a one year low of $50.19 and a one year high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.44 annualized dividend and a yield of 4.59%. This is a positive change from General Mills’s previous quarterly dividend of $0.60. General Mills’s dividend payout ratio is presently 58.54%.

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.