Andra AP fonden lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 32.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,200 shares of the company’s stock after selling 81,900 shares during the quarter. Andra AP fonden’s holdings in General Mills were worth $7,219,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Adviser Investments LLC raised its position in shares of General Mills by 158.7% in the 2nd quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock worth $115,000 after purchasing an additional 1,600 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of General Mills in the 2nd quarter worth about $115,000. CSat Investment Advisory L.P. purchased a new position in shares of General Mills in the 2nd quarter worth about $118,000. Kiley Juergens Wealth Management LLC raised its position in shares of General Mills by 108.2% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock worth $129,000 after purchasing an additional 1,568 shares during the last quarter. Finally, ELM Advisors LLC purchased a new position in shares of General Mills in the 3rd quarter worth about $137,000. 70.67% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on GIS shares. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of General Mills in a research report on Wednesday, June 27th. Bank of America reaffirmed a “hold” rating and issued a $49.00 price target on shares of General Mills in a research report on Wednesday, June 27th. Citigroup decreased their target price on General Mills from $61.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, June 29th. Finally, Sanford C. Bernstein reissued a “sell” rating on shares of General Mills in a research report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $50.29.
General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. On average, sell-side analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be paid a dividend of $0.49 per share. The ex-dividend date is Tuesday, October 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.40%. General Mills’s dividend payout ratio is currently 63.02%.
In other news, Director Maria Sastre purchased 1,000 shares of the business’s stock in a transaction on Monday, August 20th. The stock was acquired at an average cost of $47.37 per share, for a total transaction of $47,370.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $47,370. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kofi A. Bruce sold 2,200 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $47.28, for a total value of $104,016.00. Following the sale, the insider now owns 19,660 shares of the company’s stock, valued at $929,524.80. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
About General Mills
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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
Further Reading: What is the Rule of 72?
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.