General Mills, Inc. $GIS Shares Purchased by Ethic Inc.

Ethic Inc. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,210 shares of the company’s stock after purchasing an additional 6,921 shares during the quarter. Ethic Inc.’s holdings in General Mills were worth $6,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kera Capital Partners Inc. acquired a new stake in General Mills during the second quarter worth approximately $222,000. Victory Capital Management Inc. raised its holdings in General Mills by 7.3% during the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after purchasing an additional 35,494 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in General Mills by 7.8% during the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after purchasing an additional 32,628 shares in the last quarter. Rock Point Advisors LLC acquired a new stake in General Mills during the first quarter worth approximately $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in General Mills by 126.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock worth $46,285,000 after purchasing an additional 431,693 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays cut their price objective on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, September 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Stifel Nicolaus cut their target price on shares of General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Mizuho cut their target price on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Finally, UBS Group cut their target price on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $55.82.

Insider Activity at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $49.18 on Thursday. The firm’s fifty day moving average price is $49.61 and its 200 day moving average price is $52.13. General Mills, Inc. has a 1-year low of $47.48 and a 1-year high of $69.03. 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 firm has a market cap of $26.23 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03.

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

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

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.