National Pension Service Increases Stock Position in General Mills, Inc. (NYSE:GIS)

National Pension Service grew its position in General Mills, Inc. (NYSE:GISGet Rating) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 988,973 shares of the company’s stock after purchasing an additional 34,161 shares during the period. National Pension Service’s holdings in General Mills were worth $66,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFM Investors Pty Ltd raised its holdings in shares of General Mills by 17.0% in the first quarter. IFM Investors Pty Ltd now owns 90,359 shares of the company’s stock valued at $6,119,000 after purchasing an additional 13,104 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of General Mills by 6.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 178,327 shares of the company’s stock valued at $12,076,000 after purchasing an additional 10,664 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in General Mills by 9.9% during the first quarter. Checchi Capital Advisers LLC now owns 5,681 shares of the company’s stock worth $385,000 after buying an additional 514 shares during the last quarter. Carmignac Gestion purchased a new stake in General Mills during the first quarter worth about $597,000. Finally, Bison Wealth LLC increased its holdings in General Mills by 3.1% during the first quarter. Bison Wealth LLC now owns 13,263 shares of the company’s stock worth $898,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 75.48% of the company’s stock.

Insider Activity

In other news, insider Sean N. Walker sold 29,489 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the completion of the transaction, the insider now directly owns 89,989 shares in the company, valued at $6,749,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other General Mills news, insider Jodi J. Benson sold 15,685 shares of General Mills stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the sale, the insider now directly owns 38,085 shares in the company, valued at $2,865,896.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean N. Walker sold 29,489 shares of General Mills stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the sale, the insider now owns 89,989 shares of the company’s stock, valued at $6,749,175. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,422 shares of company stock worth $4,397,556. 0.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GIS. BMO Capital Markets raised their price objective on shares of General Mills from $66.00 to $80.00 and gave the stock a “market perform” rating in a report on Thursday, June 30th. Citigroup raised their price objective on shares of General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. Credit Suisse Group set a $74.00 price objective on shares of General Mills in a report on Tuesday, July 19th. Morgan Stanley raised their price objective on shares of General Mills from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Friday, July 1st. Finally, Royal Bank of Canada raised their price objective on shares of General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a report on Friday, July 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.73.

General Mills Price Performance

GIS opened at $75.63 on Friday. The firm has a 50-day moving average price of $75.98 and a 200-day moving average price of $71.16. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 0.85. General Mills, Inc. has a twelve month low of $57.47 and a twelve month high of $78.54. The company has a market capitalization of $45.05 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.51 and a beta of 0.33.

General Mills (NYSE:GISGet Rating) last released its quarterly earnings data on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the business earned $0.91 earnings per share. General Mills’s revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s dividend payout ratio (DPR) is currently 48.87%.

About General Mills

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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

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