Asset Management One Co. Ltd. Purchases 4,464 Shares of General Mills, Inc. (NYSE:GIS)

Asset Management One Co. Ltd. grew its position in General Mills, Inc. (NYSE:GIS) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 353,484 shares of the company’s stock after acquiring an additional 4,464 shares during the quarter. Asset Management One Co. Ltd.’s holdings in General Mills were worth $21,135,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Mills during the 4th quarter valued at approximately $31,000. Transce3nd LLC acquired a new stake in General Mills during the 4th quarter valued at approximately $32,000. VSM Wealth Advisory LLC acquired a new stake in General Mills during the 4th quarter valued at approximately $32,000. Finally, Perkins Coie Trust Co lifted its stake in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on GIS shares. Jefferies Financial Group lifted their price objective on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Morgan Stanley decreased their price objective on shares of General Mills from $53.00 to $51.00 and set an “underweight” rating for the company in a research note on Tuesday. UBS Group decreased their price objective on shares of General Mills from $54.00 to $52.00 and set a “sell” rating for the company in a research note on Friday, June 6th. Wells Fargo & Company decreased their price objective on shares of General Mills from $61.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, June 16th. Finally, The Goldman Sachs Group cut shares of General Mills from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.63.

General Mills Stock Performance

GIS opened at $50.74 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.67 and a quick ratio of 0.44. The firm has a fifty day moving average price of $54.62 and a 200 day moving average price of $58.57. General Mills, Inc. has a 1 year low of $50.66 and a 1 year high of $75.90. The stock has a market cap of $27.97 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.27 and a beta of 0.02.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a net margin of 13.02% and a return on equity of 26.39%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. Equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.81%. This is a positive change from General Mills’s previous quarterly dividend of $0.60. General Mills’s payout ratio is presently 52.75%.

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.