Capital Management Associates Inc Makes New Investment in General Mills, Inc. $GIS

Capital Management Associates Inc bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 451,154 shares of the company’s stock, valued at approximately $23,374,000. General Mills comprises about 7.4% of Capital Management Associates Inc’s holdings, making the stock its 4th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC boosted its position in shares of General Mills by 4.1% during the first quarter. Miracle Mile Advisors LLC now owns 10,903 shares of the company’s stock worth $652,000 after buying an additional 430 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of General Mills by 16.3% during the first quarter. First Citizens Bank & Trust Co. now owns 6,342 shares of the company’s stock worth $379,000 after buying an additional 888 shares during the period. Farther Finance Advisors LLC boosted its position in shares of General Mills by 110.0% during the first quarter. Farther Finance Advisors LLC now owns 16,503 shares of the company’s stock worth $986,000 after buying an additional 8,643 shares during the period. Yousif Capital Management LLC boosted its position in shares of General Mills by 3.4% during the first quarter. Yousif Capital Management LLC now owns 97,690 shares of the company’s stock worth $5,841,000 after buying an additional 3,200 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of General Mills by 12.2% during the first quarter. Harbor Capital Advisors Inc. now owns 9,832 shares of the company’s stock worth $588,000 after buying an additional 1,068 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 2.3%

General Mills stock opened at $49.76 on Thursday. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $72.71. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market cap of $26.54 billion, a PE ratio of 9.41, a P/E/G ratio of 1.29 and a beta of -0.03. The stock’s fifty day moving average is $49.77 and its two-hundred day moving average is $52.87.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the firm earned $1.07 earnings per share. General Mills’s quarterly revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Insiders Place Their Bets

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on GIS shares. HSBC lowered their price target on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Mizuho lowered their price target on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, September 19th. Jefferies Financial Group decreased their target price on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a report on Monday, September 8th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Finally, Stifel Nicolaus decreased their target price on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Company 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.