General Mills, Inc. (NYSE:GIS) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,766 shares of the company’s stock after selling 500 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in General Mills were worth $541,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GIS. Douglass Winthrop Advisors LLC increased its position in General Mills by 30.4% in the first quarter. Douglass Winthrop Advisors LLC now owns 26,546 shares of the company’s stock valued at $1,566,000 after buying an additional 6,188 shares during the period. Gulf International Bank UK Ltd increased its position in General Mills by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,424 shares of the company’s stock valued at $10,823,000 after buying an additional 2,450 shares during the period. National Pension Service increased its position in General Mills by 5.6% in the first quarter. National Pension Service now owns 445,939 shares of the company’s stock valued at $26,342,000 after buying an additional 23,476 shares during the period. Univest Corp of Pennsylvania increased its position in General Mills by 9.2% in the first quarter. Univest Corp of Pennsylvania now owns 7,760 shares of the company’s stock valued at $458,000 after buying an additional 655 shares during the period. Finally, First National Bank of Omaha increased its position in General Mills by 7.6% in the first quarter. First National Bank of Omaha now owns 4,200 shares of the company’s stock valued at $248,000 after buying an additional 297 shares during the period. 71.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of General Mills, Inc. (GIS) traded down 0.75% on Friday, hitting $57.14. The company had a trading volume of 4,595,632 shares. The stock’s 50-day moving average is $55.23 and its 200 day moving average is $57.76. General Mills, Inc. has a 52 week low of $53.24 and a 52 week high of $71.96. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 20.63 and a beta of 0.61.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Equities analysts expect that General Mills, Inc. will post $3.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This is a boost from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.43%. General Mills’s dividend payout ratio (DPR) is 70.76%.

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Several brokerages recently commented on GIS. Royal Bank Of Canada cut their price target on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, June 29th. BMO Capital Markets restated a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG restated a “neutral” rating and set a $58.00 target price (down previously from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, Piper Jaffray Companies reiterated an “underweight” rating and issued a $56.00 price target (down previously from $57.00) on shares of General Mills in a research note on Monday, June 19th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. General Mills currently has a consensus rating of “Hold” and a consensus target price of $59.93.

About General Mills

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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