9,416 Shares in General Mills, Inc. (NYSE:GIS) Purchased by BNP Paribas

BNP Paribas acquired a new position in General Mills, Inc. (NYSE:GISFree Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,416 shares of the company’s stock, valued at approximately $659,000.

A number of other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in General Mills by 17.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,220,646 shares of the company’s stock valued at $142,099,000 after buying an additional 328,585 shares during the period. Sei Investments Co. increased its stake in General Mills by 9.2% during the 3rd quarter. Sei Investments Co. now owns 253,379 shares of the company’s stock valued at $16,215,000 after buying an additional 21,299 shares during the period. Royal London Asset Management Ltd. increased its stake in General Mills by 6.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 244,523 shares of the company’s stock valued at $15,648,000 after buying an additional 15,707 shares during the period. Baker Avenue Asset Management LP increased its stake in General Mills by 533.6% during the 3rd quarter. Baker Avenue Asset Management LP now owns 830 shares of the company’s stock valued at $53,000 after buying an additional 699 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in General Mills by 2.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 417,791 shares of the company’s stock valued at $26,734,000 after buying an additional 9,167 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GIS shares. Stifel Nicolaus lowered their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley raised their price objective on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. TD Cowen raised their price objective on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Mizuho reduced their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Read Our Latest Stock Report on GIS

General Mills Stock Up 0.2 %

Shares of GIS stock traded up $0.13 during trading on Monday, hitting $63.01. 548,682 shares of the company were exchanged, compared to its average volume of 4,155,343. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The firm has a market capitalization of $35.17 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 3.55 and a beta of 0.09. The business’s 50-day simple moving average is $67.70 and its 200 day simple moving average is $66.64. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $77.63.

General Mills (NYSE:GISGet Free Report) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. As a group, analysts forecast that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is currently 54.76%.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

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

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