Impax Asset Management Group plc Has $7.32 Million Stake in General Mills, Inc. $GIS

Impax Asset Management Group plc raised its stake in General Mills, Inc. (NYSE:GIS) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,227 shares of the company’s stock after purchasing an additional 2,400 shares during the quarter. Impax Asset Management Group plc’s holdings in General Mills were worth $7,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey grew its holdings in General Mills by 4.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 83,940 shares of the company’s stock worth $4,349,000 after buying an additional 3,533 shares in the last quarter. Geode Capital Management LLC lifted its stake in General Mills by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,173,940 shares of the company’s stock valued at $786,954,000 after acquiring an additional 170,587 shares in the last quarter. Everett Harris & Co. CA boosted its holdings in General Mills by 26.2% during the 2nd quarter. Everett Harris & Co. CA now owns 6,210 shares of the company’s stock worth $322,000 after acquiring an additional 1,290 shares during the last quarter. National Pension Service grew its stake in shares of General Mills by 0.7% in the 2nd quarter. National Pension Service now owns 886,354 shares of the company’s stock worth $45,922,000 after acquiring an additional 6,275 shares in the last quarter. Finally, Ironwood Investment Counsel LLC grew its stake in shares of General Mills by 1.0% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 25,412 shares of the company’s stock worth $1,317,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GIS. Bernstein Bank dropped their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Morgan Stanley dropped their target price on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research 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 research note on Friday, September 19th. Finally, Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Four investment 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. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus price target of $55.82.

General Mills Trading Up 1.8%

NYSE:GIS opened at $47.33 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $25.25 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. The firm’s 50 day moving average is $48.80 and its 200 day moving average is $50.93. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share 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 during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the company earned $1.07 earnings per share. General Mills’s revenue was down 6.8% compared to the same quarter last year. Sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.61 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.2%. General Mills’s dividend payout ratio (DPR) is 46.12%.

Insider Transactions at General Mills

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 shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

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.