1832 Asset Management L.P. Grows Holdings in General Mills, Inc. (NYSE:GIS)

1832 Asset Management L.P. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 1,101.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,137 shares of the company’s stock after acquiring an additional 34,045 shares during the quarter. 1832 Asset Management L.P.’s holdings in General Mills were worth $2,598,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GIS. Assenagon Asset Management S.A. raised its stake in shares of General Mills by 230.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,471 shares of the company’s stock worth $6,089,000 after buying an additional 65,218 shares during the period. Schechter Investment Advisors LLC raised its position in General Mills by 16.4% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,705 shares of the company’s stock worth $437,000 after acquiring an additional 943 shares during the period. Blue Trust Inc. lifted its holdings in General Mills by 11.1% during the fourth quarter. Blue Trust Inc. now owns 5,927 shares of the company’s stock valued at $380,000 after purchasing an additional 590 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of General Mills by 90.6% in the fourth quarter. Global Retirement Partners LLC now owns 7,514 shares of the company’s stock valued at $472,000 after purchasing an additional 3,571 shares during the period. Finally, Gradient Investments LLC grew its position in shares of General Mills by 29.9% in the fourth quarter. Gradient Investments LLC now owns 2,238 shares of the company’s stock valued at $146,000 after purchasing an additional 515 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

General Mills Stock Performance

NYSE:GIS traded up $0.49 during mid-day trading on Friday, reaching $66.32. 2,548,167 shares of the stock were exchanged, compared to its average volume of 3,574,117. The stock has a market capitalization of $37.02 billion, a P/E ratio of 15.39, a P/E/G ratio of 3.75 and a beta of 0.09. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $76.15. The company has a 50 day simple moving average of $65.84 and a 200-day simple moving average of $66.53. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the business posted $1.12 earnings per share. General Mills’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.62%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GIS shares. Stifel Nicolaus decreased their price target on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. JPMorgan Chase & Co. reduced their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Evercore ISI lowered their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Citigroup cut their price objective on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and upped their price target for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $68.82.

About General Mills

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.