Charles Schwab Investment Management Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,483,056 shares of the company’s stock after selling 77,994 shares during the period. Charles Schwab Investment Management Inc.’s holdings in General Mills were worth $558,186,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GIS. Moneta Group Investment Advisors LLC increased its stake in General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after acquiring an additional 11,067,051 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of General Mills by 99,497.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,302,586 shares of the company’s stock valued at $406,708,000 after purchasing an additional 5,297,262 shares in the last quarter. Norges Bank acquired a new stake in shares of General Mills in the 4th quarter valued at $382,081,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of General Mills by 101.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after purchasing an additional 3,496,741 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of General Mills by 627.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,536,513 shares of the company’s stock valued at $41,213,000 after purchasing an additional 3,050,525 shares in the last quarter. Institutional investors own 75.31% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on GIS shares. JPMorgan Chase & Co. reduced their target price on General Mills from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, September 18th. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $82.00 to $77.00 and set a “hold” rating on the stock in a report on Thursday, September 7th. Bank of America cut their price objective on General Mills from $82.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, August 23rd. StockNews.com initiated coverage on General Mills in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Mizuho cut their price objective on General Mills from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average price target of $74.94.
General Mills Stock Performance
GIS stock opened at $64.70 on Thursday. The stock has a 50-day moving average price of $64.52 and a 200-day moving average price of $73.54. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a current ratio of 0.72, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. The firm has a market cap of $37.61 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.19 and a beta of 0.27.
General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings data on Wednesday, September 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. General Mills had a return on equity of 24.39% and a net margin of 12.07%. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period last year, the company posted $1.11 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that General Mills, Inc. will post 4.48 earnings per share for the current year.
General Mills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 57.56%.
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.
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