General Mills, Inc. (GIS) Holdings Raised by Palisade Asset Management LLC

Palisade Asset Management LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 25.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 75,228 shares of the company’s stock after purchasing an additional 15,436 shares during the period. Palisade Asset Management LLC’s holdings in General Mills were worth $3,229,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. NewSquare Capital LLC grew its position in General Mills by 9.7% in the 3rd quarter. NewSquare Capital LLC now owns 30,896 shares of the company’s stock worth $1,326,000 after purchasing an additional 2,722 shares in the last quarter. Cullinan Associates Inc. bought a new stake in General Mills in the 3rd quarter worth about $1,026,000. Westbourne Investment Advisors Inc. bought a new stake in General Mills in the 3rd quarter worth about $174,000. Oakbrook Investments LLC bought a new stake in General Mills in the 3rd quarter worth about $10,994,000. Finally, Aperio Group LLC grew its position in General Mills by 4.6% in the 3rd quarter. Aperio Group LLC now owns 443,973 shares of the company’s stock worth $19,055,000 after purchasing an additional 19,376 shares in the last quarter. 70.67% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. UBS Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Morgan Stanley initiated coverage on shares of General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 target price for the company. Credit Suisse Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research report on Thursday, September 13th. Finally, Bank of America reissued a “hold” rating and set a $49.00 target price on shares of General Mills in a research report on Wednesday, June 27th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.29.

In related news, Director Heidi Miller sold 13,204 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $45.77, for a total value of $604,347.08. Following the completion of the transaction, the director now directly owns 82,295 shares of the company’s stock, valued at approximately $3,766,642.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kofi A. Bruce sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $47.28, for a total transaction of $104,016.00. Following the completion of the transaction, the insider now directly owns 19,660 shares of the company’s stock, valued at $929,524.80. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Shares of General Mills stock traded up $0.89 on Friday, reaching $44.54. 281,911 shares of the company traded hands, compared to its average volume of 4,520,368. General Mills, Inc. has a 52 week low of $41.01 and a 52 week high of $60.69. The company has a market capitalization of $26.27 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.85 and a beta of 0.77. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93.

General Mills (NYSE:GIS) last released its earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. Equities analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, October 9th. General Mills’s dividend payout ratio (DPR) is presently 63.02%.

General Mills Profile

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.

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

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