Ascension Asset Management LLC Has $363,000 Holdings in General Mills, Inc. (GIS)

Ascension Asset Management LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 66.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,200 shares of the company’s stock after selling 16,075 shares during the period. Ascension Asset Management LLC’s holdings in General Mills were worth $363,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lee Financial Co raised its stake in General Mills by 178.2% in the first quarter. Lee Financial Co now owns 2,504 shares of the company’s stock valued at $113,000 after buying an additional 1,604 shares in the last quarter. Institutional & Family Asset Management LLC acquired a new stake in General Mills in the first quarter valued at $115,000. Acadian Asset Management LLC acquired a new stake in General Mills in the second quarter valued at $115,000. Adviser Investments LLC raised its stake in General Mills by 158.7% in the second quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock valued at $115,000 after buying an additional 1,600 shares in the last quarter. Finally, TLP Group LLC raised its stake in General Mills by 840.9% in the first quarter. TLP Group LLC now owns 2,992 shares of the company’s stock valued at $135,000 after buying an additional 2,674 shares in the last quarter. Institutional investors own 71.75% of the company’s stock.

Shares of GIS stock opened at $46.60 on Friday. The stock has a market cap of $26.81 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.74 and a beta of 0.77. General Mills, Inc. has a 1 year low of $41.01 and a 1 year high of $60.69. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.34 and a current ratio of 0.56.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 27th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.07. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.89 billion. General Mills had a return on equity of 35.14% and a net margin of 13.54%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 earnings per share. analysts predict that General Mills, Inc. will post 3.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, July 9th. General Mills’s dividend payout ratio is currently 63.02%.

In related news, insider Shawn P. Ogrady sold 82,244 shares of the firm’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $45.50, for a total transaction of $3,742,102.00. Following the transaction, the insider now owns 187,948 shares of the company’s stock, valued at $8,551,634. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kofi A. Bruce sold 2,200 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $47.28, for a total value of $104,016.00. Following the transaction, the insider now directly owns 19,660 shares in the company, valued at approximately $929,524.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,018 shares of company stock worth $7,114,487. Corporate insiders own 1.40% of the company’s stock.

GIS has been the topic of a number of analyst reports. Goldman Sachs Group upgraded General Mills from a “sell” rating to a “neutral” rating and set a $47.00 price target on the stock in a research note on Wednesday, May 16th. ValuEngine cut General Mills from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Citigroup cut their price target on General Mills from $61.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, Susquehanna Bancshares set a $50.00 price objective on General Mills and gave the stock a “buy” rating in a report on Monday, May 21st. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. General Mills currently has an average rating of “Hold” and an average price target of $50.71.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

Further Reading: Average Daily Trade Volume – What You Need to Know

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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