Resona Asset Management Co. Ltd. Has $14.55 Million Holdings in General Mills, Inc. $GIS

Resona Asset Management Co. Ltd. grew its position in General Mills, Inc. (NYSE:GIS) by 8.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 281,490 shares of the company’s stock after acquiring an additional 22,416 shares during the period. Resona Asset Management Co. Ltd. owned 0.05% of General Mills worth $14,546,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. increased its holdings in General Mills by 0.4% in the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock worth $3,127,000 after purchasing an additional 185 shares in the last quarter. Eastern Bank grew its holdings in shares of General Mills by 0.8% during the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock worth $1,484,000 after purchasing an additional 186 shares during the last quarter. SPC Financial Inc. increased its stake in shares of General Mills by 1.5% in the first quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after buying an additional 193 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of General Mills by 5.0% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock valued at $217,000 after buying an additional 200 shares during the period. Finally, ICW Investment Advisors LLC raised its holdings in General Mills by 0.8% in the 1st quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock valued at $1,479,000 after buying an additional 202 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley decreased their price objective on General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a report on Monday, September 15th. Mizuho cut their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Finally, HSBC reduced their price target on General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. 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 stock. According to data from MarketBeat.com, General Mills currently has an average rating of “Hold” and an average price target of $55.82.

General Mills Price Performance

GIS stock opened at $46.89 on Friday. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.17 and a beta of -0.04. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $45.80 and a 12-month high of $67.40. The company’s fifty day simple moving average is $49.02 and its 200 day simple moving average is $51.21.

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

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

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 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.