Tiemann Investment Advisors LLC Decreases Stake in General Mills, Inc. (NYSE:GIS)

Tiemann Investment Advisors LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 5.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,156 shares of the company’s stock after selling 623 shares during the period. Tiemann Investment Advisors LLC’s holdings in General Mills were worth $658,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after buying an additional 1,449,632 shares during the period. Schroder Investment Management Group boosted its stake in shares of General Mills by 17.0% in the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after buying an additional 660,726 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of General Mills by 24.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,571,833 shares of the company’s stock valued at $151,764,000 after buying an additional 508,007 shares during the period. Swiss National Bank boosted its stake in shares of General Mills by 16.8% in the first quarter. Swiss National Bank now owns 3,206,616 shares of the company’s stock valued at $189,222,000 after buying an additional 461,500 shares during the period. Finally, Honeywell International Inc. acquired a new stake in shares of General Mills during the first quarter valued at approximately $26,082,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

General Mills, Inc. (NYSE GIS) opened at 55.33 on Friday. The stock has a market cap of $31.93 billion, a PE ratio of 19.97 and a beta of 0.61. The firm’s 50-day moving average price is $55.38 and its 200 day moving average price is $58.33. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $72.15.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio (DPR) is currently 70.76%.

GIS has been the topic of several research reports. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target on the stock in a research report on Monday, May 1st. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Credit Suisse Group reiterated a “neutral” rating and issued a $56.00 price target (down from $65.00) on shares of General Mills in a research report on Friday, May 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 price target (down from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Finally, Piper Jaffray Companies initiated coverage on shares of General Mills in a research report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 price target on the stock. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $59.93.

General Mills Company Profile

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.