TD Asset Management Inc Has $45.80 Million Position in General Mills, Inc. (NYSE:GIS)

TD Asset Management Inc reduced its stake in General Mills, Inc. (NYSE:GIS) by 4.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 765,996 shares of the company’s stock after selling 37,516 shares during the period. TD Asset Management Inc’s holdings in General Mills were worth $45,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of General Mills by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock valued at $923,907,000 after purchasing an additional 136,895 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after purchasing an additional 2,341,137 shares during the last quarter. Northern Trust Corp increased its holdings in shares of General Mills by 18.4% in the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock valued at $514,101,000 after purchasing an additional 1,253,483 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of General Mills by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,846,576 shares of the company’s stock valued at $436,606,000 after purchasing an additional 561,731 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of General Mills by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,351,735 shares of the company’s stock valued at $405,035,000 after purchasing an additional 509,268 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Trading Down 2.3%

GIS opened at $49.87 on Tuesday. General Mills, Inc. has a twelve month low of $49.04 and a twelve month high of $75.90. The company has a 50-day simple moving average of $52.59 and a 200 day simple moving average of $56.50. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $27.05 billion and a price-to-earnings ratio of 12.16.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. General Mills’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. Analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.61 per share. This is an increase from General Mills’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, July 10th. This represents a $2.44 annualized dividend and a yield of 4.89%. General Mills’s payout ratio is presently 59.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIS. UBS Group reduced their target price on shares of General Mills from $52.00 to $49.00 and set a “sell” rating for the company in a research report on Thursday, June 26th. Bank of America reduced their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Wall Street Zen cut shares of General Mills from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus reduced their target price on shares of General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group cut shares of General Mills from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.73.

General Mills Profile

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.