Crescent Sterling Ltd. Sells 3,101 Shares of General Mills, Inc. $GIS

by · The Cerbat Gem

Crescent Sterling Ltd. cut its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 25.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,107 shares of the company’s stock after selling 3,101 shares during the period. Crescent Sterling Ltd.’s holdings in General Mills were worth $472,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Garde Capital Inc. lifted its stake in General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of General Mills in the second quarter valued at about $32,000. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the first quarter valued at about $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of General Mills in the first quarter valued at about $37,000. Finally, Pingora Partners LLC increased its position in shares of General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. HSBC decreased their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Mizuho decreased their price objective on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, September 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a research report on Wednesday, October 8th. Finally, Morgan Stanley reduced their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.82.

Check Out Our Latest Research Report on GIS

General Mills Price Performance

Shares of NYSE GIS opened at $46.65 on Friday. General Mills, Inc. has a 1 year low of $46.21 and a 1 year high of $68.89. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The company’s 50-day moving average is $49.29 and its 200 day moving average is $51.59. The stock has a market capitalization of $24.88 billion, a P/E ratio of 8.82, a P/E/G ratio of 1.17 and a beta of -0.03.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. General Mills’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Friday, October 10th. General Mills’s dividend payout ratio is 46.12%.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

General Mills Profile

(Free Report)

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.

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