General Mills, Inc. $GIS Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. grew its position in shares of General Mills, Inc. (NYSE:GIS) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,816 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Bridges Investment Management Inc.’s holdings in General Mills were worth $509,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Perpetual Ltd lifted its position in General Mills by 3.5% in the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock valued at $324,000 after purchasing an additional 184 shares during the last quarter. Conning Inc. raised its holdings in shares of General Mills by 4.6% during the first quarter. Conning Inc. now owns 4,212 shares of the company’s stock valued at $252,000 after buying an additional 185 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of General Mills by 0.4% during the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock worth $3,127,000 after buying an additional 185 shares during the period. Eastern Bank grew its holdings in General Mills by 0.8% in the 1st quarter. Eastern Bank now owns 24,817 shares of the company’s stock worth $1,484,000 after buying an additional 186 shares in the last quarter. Finally, SPC Financial Inc. increased its position in General Mills by 1.5% in the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after acquiring an additional 193 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $48.48 on Friday. The company has a 50-day moving average of $49.65 and a 200-day moving average of $52.36. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.20 and a beta of -0.03. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a twelve month low of $47.48 and a twelve month high of $70.60.

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

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GIS shares. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Bernstein Bank reduced their price objective on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, September 18th. Jefferies Financial Group decreased their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. Mizuho dropped their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, September 19th. Finally, Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Four 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.82.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction 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 sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.

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.