Royal London Asset Management Ltd. Has $10.07 Million Stake in General Mills, Inc. (GIS)
Royal London Asset Management Ltd. lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 234,636 shares of the company’s stock after selling 7,088 shares during the quarter. Royal London Asset Management Ltd.’s holdings in General Mills were worth $10,069,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in General Mills during the third quarter valued at $321,000. Financial Counselors Inc. lifted its position in General Mills by 4.0% during the third quarter. Financial Counselors Inc. now owns 204,922 shares of the company’s stock valued at $8,795,000 after buying an additional 7,917 shares during the period. Centaurus Financial Inc. lifted its position in General Mills by 324.2% during the second quarter. Centaurus Financial Inc. now owns 15,924 shares of the company’s stock valued at $705,000 after buying an additional 12,170 shares during the period. Steward Partners Investment Advisory LLC lifted its position in General Mills by 61.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 32,981 shares of the company’s stock valued at $1,460,000 after buying an additional 12,576 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in General Mills by 10.4% during the third quarter. State of Alaska Department of Revenue now owns 174,392 shares of the company’s stock valued at $7,482,000 after buying an additional 16,483 shares during the period. 69.06% of the stock is owned by hedge funds and other institutional investors.
NYSE GIS opened at $44.18 on Wednesday. The stock has a market capitalization of $26.37 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.86 and a beta of 0.60. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93. General Mills, Inc. has a one year low of $41.01 and a one year high of $60.69.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be given a $0.49 dividend. The ex-dividend date is Wednesday, January 9th. This represents a $1.96 annualized dividend and a yield of 4.44%. General Mills’s payout ratio is 63.02%.
Several equities analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $52.00 price objective on shares of General Mills in a research report on Monday, September 17th. Morgan Stanley assumed coverage on General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 price objective for the company. Credit Suisse Group set a $46.00 price objective on General Mills and gave the company a “hold” rating in a research report on Thursday, September 13th. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. General Mills currently has a consensus rating of “Hold” and a consensus target price of $50.29.
General Mills Profile
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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