General Mills, Inc. (NYSE:GIS) Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,220 shares of the company’s stock after acquiring an additional 3,732 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in General Mills were worth $5,403,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Kennedy Investment Group lifted its position in shares of General Mills by 2.1% in the 1st quarter. Kennedy Investment Group now owns 29,699 shares of the company’s stock worth $2,538,000 after buying an additional 606 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of General Mills by 62.4% in the 1st quarter. ProShare Advisors LLC now owns 118,167 shares of the company’s stock worth $10,099,000 after buying an additional 45,420 shares during the last quarter. Empower Advisory Group LLC bought a new position in shares of General Mills in the 1st quarter worth about $11,551,000. Toroso Investments LLC lifted its position in shares of General Mills by 10.8% in the 1st quarter. Toroso Investments LLC now owns 54,530 shares of the company’s stock worth $4,660,000 after buying an additional 5,321 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in shares of General Mills in the 1st quarter worth about $958,000. 75.31% of the stock is currently owned by institutional investors.

General Mills Stock Down 0.3 %

NYSE:GIS traded down $0.17 during trading hours on Wednesday, hitting $65.32. 980,151 shares of the stock traded hands, compared to its average volume of 3,473,068. The firm has a 50 day moving average price of $71.86 and a 200 day moving average price of $79.75. The company has a current ratio of 0.69, a quick ratio of 0.40 and a debt-to-equity ratio of 0.93. General Mills, Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $90.89. The firm has a market cap of $37.96 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.93 and a beta of 0.24.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.05. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the business earned $1.12 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.59 dividend. The ex-dividend date was Friday, July 7th. This is an increase from General Mills’s previous quarterly dividend of $0.54. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.61%. General Mills’s dividend payout ratio is 54.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GIS. Piper Sandler cut their price objective on shares of General Mills from $95.00 to $88.00 in a research report on Thursday, June 29th. Evercore ISI cut their price objective on shares of General Mills from $85.00 to $80.00 in a research report on Thursday, June 29th. Wells Fargo & Company cut their price objective on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 7th. Morgan Stanley cut their price objective on shares of General Mills from $77.00 to $72.00 in a research report on Thursday, June 29th. Finally, Argus upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $78.79.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.