Intact Investment Management Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 64,300 shares of the company’s stock after purchasing an additional 4,600 shares during the period. Intact Investment Management Inc.’s holdings in General Mills were worth $3,443,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in shares of General Mills by 66.8% during the 4th quarter. Capital World Investors now owns 15,443,097 shares of the company’s stock worth $827,132,000 after acquiring an additional 6,182,293 shares in the last quarter. Stifel Financial Corp boosted its position in shares of General Mills by 46.8% during the 4th quarter. Stifel Financial Corp now owns 3,365,591 shares of the company’s stock worth $179,998,000 after acquiring an additional 1,072,221 shares in the last quarter. State Street Corp boosted its position in shares of General Mills by 2.7% during the 4th quarter. State Street Corp now owns 36,332,406 shares of the company’s stock worth $1,945,964,000 after acquiring an additional 950,411 shares in the last quarter. Jensen Investment Management Inc. boosted its position in shares of General Mills by 18.5% during the 4th quarter. Jensen Investment Management Inc. now owns 5,143,000 shares of the company’s stock worth $275,459,000 after acquiring an additional 802,755 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of General Mills by 532.2% during the 4th quarter. State of Michigan Retirement System now owns 917,538 shares of the company’s stock worth $49,143,000 after acquiring an additional 772,400 shares in the last quarter. 72.18% of the stock is owned by hedge funds and other institutional investors.
GIS traded up $1.11 on Thursday, hitting $48.76. 456,302 shares of the company traded hands, compared to its average volume of 8,419,686. The company has a 50 day moving average of $52.85 and a 200-day moving average of $53.03. The company has a quick ratio of 0.41, a current ratio of 0.64 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $29.23 billion, a PE ratio of 14.01, a PEG ratio of 1.99 and a beta of 0.73. General Mills, Inc. has a 12-month low of $46.59 and a 12-month high of $60.00.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a return on equity of 26.40% and a net margin of 12.68%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. On average, research analysts anticipate that General Mills, Inc. will post 3.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.02%. The ex-dividend date is Wednesday, April 8th. General Mills’s dividend payout ratio is presently 60.87%.
Several research firms have recently issued reports on GIS. ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Royal Bank of Canada upped their price objective on General Mills from to in a research report on Thursday, March 19th. UBS Group upped their price objective on General Mills from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Credit Suisse Group upped their target price on General Mills from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, March 18th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $57.00 target price on shares of General Mills in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $57.18.
In other General Mills news, insider Shawn P. Ogrady sold 6,187 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $59.95, for a total transaction of $370,910.65. Following the completion of the sale, the insider now directly owns 134,820 shares of the company’s stock, valued at approximately $8,082,459. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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