9,748 Shares in General Mills, Inc. (NYSE:GIS) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired 9,748 shares of General Mills, valued at approximately $583,000, marking a new investment position in the company.
• General Mills declared an increased quarterly dividend of $0.61 per share, up from the previous $0.60, reflecting an annual yield of 4.9%.
• The company reported earnings per share (EPS) of $0.74 for the latest quarter, exceeding analyst expectations, though its revenue decreased by 3.3% compared to the same period last year.

Aigen Investment Management LP purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,748 shares of the company's stock, valued at approximately $583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perkins Coie Trust Co boosted its position in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after buying an additional 211 shares during the last quarter. Transce3nd LLC purchased a new position in shares of General Mills during the 4th quarter worth $32,000. Smallwood Wealth Investment Management LLC purchased a new position in General Mills during the 1st quarter valued at about $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in General Mills in the 1st quarter valued at about $37,000. Finally, Heck Capital Advisors LLC acquired a new position in General Mills during the fourth quarter worth approximately $38,000. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GIS. Barclays decreased their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and decreased their target price for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. UBS Group cut their price target on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday, June 26th. Finally, Stifel Nicolaus cut their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $59.73.

General Mills Trading Down 0.0%

Shares of GIS stock traded down $0.02 on Friday, hitting $49.65. The stock had a trading volume of 6,919,055 shares, compared to its average volume of 5,226,817. The firm has a market cap of $26.93 billion, a P/E ratio of 12.11, a PEG ratio of 1.25 and a beta of -0.01. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a twelve month low of $48.59 and a twelve month high of $75.90. The company has a fifty day moving average price of $51.31 and a two-hundred day moving average price of $55.55.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same period in the prior year, the firm earned $1.01 EPS. General Mills's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, July 10th. This is an increase from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. General Mills's payout ratio is 59.51%.

General Mills Company Profile

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.