General Mills, Inc. $GIS Holdings Boosted by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lifted its holdings in General Mills, Inc. (NYSE:GIS) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,074 shares of the company’s stock after buying an additional 3,668 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in General Mills were worth $3,320,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Employees Retirement System of Texas acquired a new position in General Mills in the 2nd quarter valued at approximately $233,000. Choreo LLC grew its stake in General Mills by 12.3% in the second quarter. Choreo LLC now owns 28,726 shares of the company’s stock valued at $1,488,000 after purchasing an additional 3,156 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in General Mills by 8.3% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 143,616 shares of the company’s stock worth $7,441,000 after purchasing an additional 11,039 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in General Mills by 37.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 29,576 shares of the company’s stock worth $1,532,000 after purchasing an additional 8,083 shares during the last quarter. Finally, North Star Asset Management Inc. lifted its holdings in shares of General Mills by 27.6% during the 2nd quarter. North Star Asset Management Inc. now owns 7,119 shares of the company’s stock valued at $369,000 after buying an additional 1,540 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.0%

GIS opened at $46.93 on Wednesday. The firm has a market cap of $25.03 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.17 and a beta of -0.04. 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 firm’s 50-day simple moving average is $48.39 and its 200-day simple moving average is $50.43. General Mills, Inc. has a twelve month low of $45.80 and a twelve month high of $67.40.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s payout ratio is presently 46.12%.

Analysts Set New Price Targets

GIS has been the topic of several analyst reports. Bernstein Bank dropped their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Morgan Stanley dropped their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, September 15th. HSBC decreased their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Mizuho decreased their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and an average price target of $55.82.

Insider Buying and Selling

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

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.