Zurcher Kantonalbank Zurich Cantonalbank Has $13.29 Million Stake in General Mills, Inc. $GIS

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in General Mills, Inc. (NYSE:GIS) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 285,747 shares of the company’s stock after selling 16,939 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Mills were worth $13,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Worldquant Millennium Advisors LLC acquired a new position in General Mills in the second quarter valued at $84,862,000. Two Sigma Investments LP lifted its holdings in General Mills by 82.8% in the third quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock valued at $172,226,000 after buying an additional 1,546,993 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in General Mills by 22.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after buying an additional 1,383,913 shares during the period. Nordea Investment Management AB lifted its holdings in General Mills by 15.9% in the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock valued at $494,548,000 after buying an additional 1,368,041 shares during the period. Finally, Invesco Ltd. lifted its holdings in General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after buying an additional 883,150 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.3%

GIS opened at $35.17 on Thursday. General Mills, Inc. has a 1-year low of $34.04 and a 1-year high of $57.85. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The company has a market cap of $18.77 billion, a P/E ratio of 8.60 and a beta of 0.01. The company has a fifty day moving average price of $39.98 and a two-hundred day moving average price of $44.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts predict that General Mills, Inc. will post 3.44 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.9%. General Mills’s payout ratio is presently 59.66%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Royal Bank Of Canada dropped their target price on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Barclays decreased their price target on shares of General Mills from $46.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. Weiss Ratings downgraded shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 13th. Finally, Evercore set a $45.00 price target on shares of General Mills in a research note on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $43.22.

General Mills Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.