General Mills, Inc. $GIS Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,374 shares of the company’s stock after acquiring an additional 425 shares during the period. Cidel Asset Management Inc.’s holdings in General Mills were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. GAMMA Investing LLC grew its holdings in General Mills by 12.2% during the first quarter. GAMMA Investing LLC now owns 19,597 shares of the company’s stock worth $1,172,000 after acquiring an additional 2,127 shares during the period. Avior Wealth Management LLC grew its holdings in General Mills by 179.0% during the first quarter. Avior Wealth Management LLC now owns 14,366 shares of the company’s stock worth $859,000 after acquiring an additional 9,216 shares during the period. Heartland Bank & Trust Co grew its holdings in General Mills by 22.9% in the first quarter. Heartland Bank & Trust Co now owns 8,577 shares of the company’s stock valued at $513,000 after purchasing an additional 1,596 shares during the period. 1858 Wealth Management LLC grew its holdings in General Mills by 16.0% in the first quarter. 1858 Wealth Management LLC now owns 5,450 shares of the company’s stock valued at $326,000 after purchasing an additional 750 shares during the period. Finally, TrueMark Investments LLC grew its holdings in General Mills by 149.3% in the first quarter. TrueMark Investments LLC now owns 88,671 shares of the company’s stock valued at $5,302,000 after purchasing an additional 53,110 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Performance

NYSE GIS opened at $48.48 on Monday. General Mills, Inc. has a fifty-two week low of $47.48 and a fifty-two week high of $70.60. The stock’s fifty day moving average is $49.65 and its two-hundred day moving average is $52.26. The firm has a market capitalization of $25.86 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.0%. General Mills’s dividend payout ratio is presently 46.12%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages have commented on GIS. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Morgan Stanley dropped their price objective on General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, September 15th. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the company an “equal weight” rating in a report on Thursday, June 26th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Bank of America lowered their price target on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Four equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.82.

General Mills 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.