SEB Asset Management AB acquired a new stake in General Mills, Inc. (NYSE:GIS – Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 115,588 shares of the company’s stock, valued at approximately $4,302,000.
Several other institutional investors also recently bought and sold shares of GIS. Swiss National Bank raised its position in General Mills by 7.1% during the 1st quarter. Swiss National Bank now owns 1,565,900 shares of the company’s stock worth $58,283,000 after buying an additional 104,200 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of General Mills by 2,932.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,123 shares of the company’s stock valued at $79,000 after acquiring an additional 2,053 shares in the last quarter. Ceera Investments LLC increased its stake in shares of General Mills by 16.5% during the first quarter. Ceera Investments LLC now owns 30,516 shares of the company’s stock worth $1,136,000 after acquiring an additional 4,327 shares during the period. Kera Capital Partners Inc. acquired a new position in shares of General Mills during the first quarter worth about $238,000. Finally, Main Street Group LTD purchased a new position in General Mills during the first quarter worth about $27,000. 75.71% of the stock is owned by institutional investors and hedge funds.
General Mills Trading Down 0.6%
Shares of GIS opened at $36.95 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The firm’s 50-day moving average is $34.86 and its two-hundred day moving average is $38.81. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.68. The firm has a market capitalization of $19.72 billion, a P/E ratio of -205.24 and a beta of -0.03.
General Mills Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.
Insider Buying and Selling at General Mills
In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Wednesday, June 3rd. TD Cowen cut their target price on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. BTIG Research started coverage on General Mills in a report on Monday, April 13th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company lifted their price target on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, General Mills has a consensus rating of “Reduce” and an average price target of $39.16.
Get Our Latest Report on General Mills
General Mills Company 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.
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