National Pension Service Has $45.92 Million Stake in General Mills, Inc. $GIS

by · The Cerbat Gem

National Pension Service grew its holdings in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 886,354 shares of the company’s stock after acquiring an additional 6,275 shares during the quarter. National Pension Service’s holdings in General Mills were worth $45,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in GIS. Charles Schwab Investment Management Inc. increased its stake in General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock worth $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Ameriprise Financial Inc. raised its stake in General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after purchasing an additional 741,432 shares in the last quarter. Nordea Investment Management AB lifted its position in General Mills by 4.8% during the second quarter. Nordea Investment Management AB now owns 8,588,624 shares of the company’s stock worth $443,173,000 after purchasing an additional 393,135 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of General Mills by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company’s stock valued at $428,213,000 after purchasing an additional 315,375 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of General Mills by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock valued at $417,674,000 after purchasing an additional 634,393 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction that occurred 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on GIS. UBS Group cut their target price on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $45.00 price objective (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. HSBC lowered their price objective on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Finally, Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Four investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.82.

Check Out Our Latest Analysis on GIS

General Mills Price Performance

Shares of GIS opened at $47.33 on Friday. The business’s fifty 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. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a market cap of $25.25 billion, a P/E ratio of 8.95, a P/E/G ratio of 1.17 and a beta of -0.04.

General Mills (NYSE:GIS – Get Free Report) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm 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 was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Friday, October 10th. General Mills’s payout ratio is currently 46.12%.

About General Mills

(Free Report)

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.

Further Reading

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