Contravisory Investment Management Inc. Buys 1,719 Shares of General Mills, Inc. (NYSE:GIS)

Contravisory Investment Management Inc. boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,188 shares of the company’s stock after acquiring an additional 1,719 shares during the quarter. General Mills comprises about 1.9% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 20th biggest position. Contravisory Investment Management Inc.’s holdings in General Mills were worth $7,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GIS. Disciplined Investments LLC grew its stake in shares of General Mills by 245.9% during the first quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock valued at $25,000 after buying an additional 209 shares during the last quarter. FWL Investment Management LLC bought a new position in shares of General Mills during the fourth quarter valued at approximately $25,000. Almanack Investment Partners LLC. bought a new position in shares of General Mills during the third quarter valued at approximately $28,000. AXS Investments LLC bought a new position in shares of General Mills during the fourth quarter valued at approximately $30,000. Finally, Pacific Center for Financial Services bought a new position in shares of General Mills during the first quarter valued at approximately $39,000. 75.31% of the stock is owned by institutional investors.

General Mills Stock Down 0.0 %

Shares of GIS stock traded down $0.03 during trading hours on Monday, reaching $65.82. 1,642,447 shares of the company’s stock were exchanged, compared to its average volume of 3,498,967. The stock’s 50 day moving average is $71.24 and its 200-day moving average is $79.46. The company has a market cap of $38.25 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 2.21 and a beta of 0.24. 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.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. General Mills had a return on equity of 24.47% and a net margin of 12.91%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts predict that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.59%. This is an increase from General Mills’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, July 7th. General Mills’s dividend payout ratio is presently 54.76%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GIS. JPMorgan Chase & Co. cut their target price on General Mills from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday. Argus upgraded General Mills from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Friday, July 14th. TD Cowen began coverage on General Mills in a report on Wednesday, September 13th. They issued a “market perform” rating and a $70.00 price target for the company. BNP Paribas lowered General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Tuesday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $82.00 to $77.00 and set a “hold” rating for the company in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.11.

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.