52,315 Shares in General Mills, Inc. (NYSE:GIS) Bought by CCM Investment Group LLC

CCM Investment Group LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 52,315 shares of the company’s stock, valued at approximately $3,092,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in General Mills by 7.3% during the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after purchasing an additional 35,494 shares during the last quarter. Ameriprise Financial Inc. grew its position in General Mills by 34.5% during the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after purchasing an additional 2,341,137 shares during the last quarter. Commonwealth Equity Services LLC grew its position in General Mills by 7.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after purchasing an additional 32,628 shares during the last quarter. Rock Point Advisors LLC purchased a new position in General Mills during the 1st quarter worth $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in General Mills by 126.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock worth $46,285,000 after purchasing an additional 431,693 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of GIS opened at $49.80 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. The stock has a market cap of $27.01 billion, a P/E ratio of 12.15, a PEG ratio of 1.25 and a beta of -0.01. The company has a 50-day moving average of $51.81 and a two-hundred day moving average of $55.90. General Mills, Inc. has a 12-month low of $48.59 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The company 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%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. As a group, research 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 was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.61 per share. The ex-dividend date was Thursday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. General Mills’s dividend payout ratio (DPR) is presently 59.51%.

Wall Street Analyst Weigh In

GIS has been the topic of several research reports. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Morgan Stanley reissued an “underweight” rating and set a $51.00 price objective (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Barclays lowered their price objective on shares of General Mills from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 26th. Royal Bank Of Canada raised shares of General Mills from a “sector perform” rating to an “outperform” rating and lowered their target price for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Finally, UBS Group lowered their target price on shares of General Mills from $52.00 to $49.00 and set a “sell” rating on the stock in a report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.