Sound Income Strategies LLC Sells 735 Shares of General Mills, Inc. (NYSE:GIS)

Sound Income Strategies LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 20.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,841 shares of the company’s stock after selling 735 shares during the quarter. Sound Income Strategies LLC’s holdings in General Mills were worth $180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Mills during the fourth quarter worth about $27,000. Rise Advisors LLC lifted its holdings in shares of General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. RFP Financial Group LLC grew its stake in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co increased its holdings in General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of several recent analyst reports. Mizuho reduced their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wells Fargo & Company lowered their target price on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Barclays lowered their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Finally, Stifel Nicolaus reduced their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, General Mills has a consensus rating of “Hold” and an average target price of $68.82.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

General Mills Trading Up 0.1 %

General Mills stock traded up $0.08 during midday trading on Friday, hitting $69.12. 1,999,644 shares of the stock were exchanged, compared to its average volume of 4,068,787. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The stock’s 50-day simple moving average is $65.75 and its 200 day simple moving average is $66.87. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $74.45. The stock has a market capitalization of $38.58 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

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

General Mills Profile

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.