Penserra Capital Management LLC Buys 11,889 Shares of General Mills, Inc. (NYSE:GIS)

Penserra Capital Management LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 819.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,340 shares of the company’s stock after acquiring an additional 11,889 shares during the quarter. Penserra Capital Management LLC’s holdings in General Mills were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GIS. CBIZ Investment Advisory Services LLC bought a new position in shares of General Mills during the fourth quarter worth about $30,000. Perkins Coie Trust Co increased its holdings in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in General Mills in the fourth quarter worth approximately $32,000. Transce3nd LLC bought a new stake in General Mills in the fourth quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in General Mills in the first quarter worth approximately $34,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Down 1.2%

GIS stock opened at $51.24 on Thursday. The stock’s fifty day simple moving average is $53.65 and its two-hundred day simple moving average is $57.66. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 1-year low of $50.19 and a 1-year high of $75.90. The stock has a market cap of $27.79 billion and a P/E ratio of 12.50.

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. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. Analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.61 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, July 10th. General Mills’s payout ratio is currently 58.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada upgraded General Mills from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $67.00 to $63.00 in a report on Thursday, June 26th. Mizuho lowered their target price on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Barclays lowered their target price on General Mills from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, June 26th. The Goldman Sachs Group downgraded General Mills from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Finally, UBS Group reduced their price objective on General Mills from $52.00 to $49.00 and set a “sell” rating for the company in a research note on Thursday, June 26th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently 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.