State Street Corp Increases Stake in General Mills, Inc. $GIS

State Street Corp lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 33,572,271 shares of the company’s stock after acquiring an additional 250,113 shares during the period. State Street Corp owned about 0.06% of General Mills worth $1,739,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. raised its position in General Mills by 5.0% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock valued at $217,000 after purchasing an additional 200 shares in the last quarter. ICW Investment Advisors LLC increased its stake in shares of General Mills by 0.8% during the first quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock worth $1,479,000 after buying an additional 202 shares during the period. J2 Capital Management Inc lifted its stake in General Mills by 3.1% in the second quarter. J2 Capital Management Inc now owns 6,846 shares of the company’s stock worth $355,000 after acquiring an additional 203 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its stake in General Mills by 5.0% in the second quarter. Alpha Omega Wealth Management LLC now owns 4,414 shares of the company’s stock worth $229,000 after acquiring an additional 209 shares during the last quarter. Finally, Guardian Wealth Advisors LLC grew its holdings in General Mills by 2.7% during the 2nd quarter. Guardian Wealth Advisors LLC now owns 7,885 shares of the company’s stock worth $409,000 after acquiring an additional 209 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a report on Monday, September 8th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. UBS Group cut their target price on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, General Mills has a consensus rating of “Hold” and an average target price of $55.82.

General Mills Stock Performance

Shares of GIS stock opened at $45.72 on Thursday. The stock’s 50-day moving average price is $47.57 and its 200 day moving average price is $49.86. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $24.39 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 0.85 and a beta of -0.07. General Mills, Inc. has a 52-week low of $45.15 and a 52-week high of $67.35.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the previous year, the company posted $1.07 EPS. General Mills’s revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be given a $0.61 dividend. The ex-dividend date is Friday, January 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.3%. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.