Eagle Asset Management Inc. Acquires 8,351 Shares of General Mills, Inc. (NYSE:GIS)

Eagle Asset Management Inc. lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 17.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,235 shares of the company’s stock after buying an additional 8,351 shares during the quarter. Eagle Asset Management Inc.’s holdings in General Mills were worth $3,044,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan grew its holdings in General Mills by 2.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,270 shares of the company’s stock worth $434,000 after acquiring an additional 200 shares during the last quarter. Covington Capital Management grew its holdings in General Mills by 1.4% in the 2nd quarter. Covington Capital Management now owns 15,000 shares of the company’s stock worth $788,000 after acquiring an additional 200 shares during the last quarter. Allworth Financial LP grew its holdings in General Mills by 5.0% in the 3rd quarter. Allworth Financial LP now owns 4,237 shares of the company’s stock worth $234,000 after acquiring an additional 200 shares during the last quarter. Amarillo National Bank grew its holdings in General Mills by 3.7% in the 3rd quarter. Amarillo National Bank now owns 5,657 shares of the company’s stock worth $312,000 after acquiring an additional 200 shares during the last quarter. Finally, SPC Financial Inc. grew its holdings in General Mills by 2.4% in the 3rd quarter. SPC Financial Inc. now owns 8,670 shares of the company’s stock worth $478,000 after acquiring an additional 200 shares during the last quarter. 68.33% of the stock is currently owned by institutional investors.

In related news, insider Kofi A. Bruce sold 15,582 shares of General Mills stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the transaction, the insider now directly owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathon Nudi sold 18,951 shares of General Mills stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the transaction, the insider now directly owns 81,656 shares of the company’s stock, valued at $4,451,885.12. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

GIS has been the topic of a number of recent analyst reports. Barclays reissued a “hold” rating and issued a $55.00 price target on shares of General Mills in a report on Friday, September 20th. Royal Bank of Canada initiated coverage on shares of General Mills in a report on Thursday, October 17th. They issued a “sector perform” rating and a $57.00 price target on the stock. ValuEngine lowered shares of General Mills from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, August 22nd. Finally, Stifel Nicolaus raised their price target on shares of General Mills from $52.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.82.

Shares of NYSE:GIS traded up $0.53 on Wednesday, hitting $52.89. The company had a trading volume of 44,451 shares, compared to its average volume of 4,097,506. The firm’s 50-day simple moving average is $52.82 and its two-hundred day simple moving average is $52.94. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $56.40. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $31.73 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 2.23 and a beta of 0.71.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the company posted $0.71 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 3.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.49 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.71%. General Mills’s dividend payout ratio (DPR) is currently 60.87%.

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.

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

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