General Mills, Inc. $GIS Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 64.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 753,702 shares of the company’s stock after acquiring an additional 295,990 shares during the period. Prudential Financial Inc.’s holdings in General Mills were worth $39,049,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its stake in shares of General Mills by 24.0% in the second quarter. Coldstream Capital Management Inc. now owns 13,010 shares of the company’s stock valued at $674,000 after purchasing an additional 2,518 shares during the period. Boston Research & Management Inc. grew its holdings in General Mills by 3.4% in the 2nd quarter. Boston Research & Management Inc. now owns 113,486 shares of the company’s stock worth $5,879,000 after buying an additional 3,680 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in General Mills by 1.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,307,064 shares of the company’s stock worth $1,000,299,000 after buying an additional 265,870 shares in the last quarter. Private Management Group Inc. acquired a new stake in General Mills in the 2nd quarter valued at approximately $3,128,000. Finally, Rhumbline Advisers raised its stake in General Mills by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 1,233,007 shares of the company’s stock valued at $63,882,000 after acquiring an additional 46,960 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GIS. HSBC decreased their price target on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Jefferies Financial Group dropped their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, September 8th. UBS Group reduced their price target on shares of General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.82.

General Mills Price Performance

Shares of General Mills stock opened at $47.04 on Tuesday. General Mills, Inc. has a 52 week low of $45.80 and a 52 week high of $67.40. 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 cap of $25.09 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. The company’s 50-day moving average price is $48.45 and its two-hundred day moving average price is $50.48.

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, topping 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 quarter in the previous year, the company posted $1.07 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders 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 annualized dividend and a yield of 5.2%. General Mills’s payout ratio 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 on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.