Elo Mutual Pension Insurance Co Sells 6,657 Shares of General Mills, Inc. $GIS

Elo Mutual Pension Insurance Co lessened its holdings in General Mills, Inc. (NYSE:GIS) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,739 shares of the company’s stock after selling 6,657 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in General Mills were worth $2,629,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after purchasing an additional 15,480,835 shares during the period. Nuveen LLC bought a new position in shares of General Mills during the first quarter worth approximately $92,717,000. Federated Hermes Inc. raised its position in shares of General Mills by 178.1% in the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock valued at $90,908,000 after buying an additional 973,798 shares in the last quarter. LSV Asset Management raised its position in shares of General Mills by 33.2% in the first quarter. LSV Asset Management now owns 3,753,710 shares of the company’s stock valued at $224,434,000 after buying an additional 935,930 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after buying an additional 741,432 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. UBS Group decreased their price target on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. Morgan Stanley cut their price objective on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, September 15th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Jefferies Financial Group dropped their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and an average price target of $55.82.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

General Mills Stock Up 0.5%

Shares of NYSE GIS opened at $47.20 on Thursday. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 1.17 and a beta of -0.04. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. The stock has a 50-day moving average price of $48.35 and a two-hundred day moving average price of $50.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results 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. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. As a group, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 9th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s payout ratio is presently 46.12%.

About General Mills

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.