Resona Asset Management Co. Ltd. Has $14.55 Million Holdings in General Mills, Inc. $GIS

Resona Asset Management Co. Ltd. boosted its holdings in General Mills, Inc. (NYSE:GIS) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 281,490 shares of the company’s stock after purchasing an additional 22,416 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in General Mills were worth $14,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after buying an additional 15,480,835 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in General Mills in the first quarter worth about $279,570,000. Pacer Advisors Inc. boosted its stake in General Mills by 4,775.2% in the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after acquiring an additional 3,373,338 shares during the last quarter. Nuveen LLC purchased a new stake in shares of General Mills during the 1st quarter worth approximately $92,717,000. Finally, Federated Hermes Inc. increased its stake in shares of General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock worth $90,908,000 after purchasing an additional 973,798 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GIS has been the topic of several research analyst reports. HSBC dropped their price objective on General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. UBS Group dropped their price target on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 target price (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the transaction, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

General Mills Stock Performance

Shares of GIS opened at $46.89 on Friday. General Mills, Inc. has a 52-week low of $45.80 and a 52-week high of $67.40. The stock’s 50-day simple moving average is $49.02 and its 200 day simple moving average is $51.21. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04.

General Mills (NYSE:GIS) last posted its 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 business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 46.12%.

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.