ASR Vermogensbeheer N.V. Takes $5.20 Million Position in General Mills, Inc. (NYSE:GIS)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in General Mills, purchasing 87,009 shares valued at approximately $5.20 million.
• General Mills recently reported earnings per share of $0.74 for the last quarter, exceeding expectations, but experienced a 3.3% decline in revenue compared to the prior year.
• The company declared a quarterly dividend of $0.61 per share, representing a 4.9% dividend yield and an increase from the previous dividend payout.

ASR Vermogensbeheer N.V. acquired a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 87,009 shares of the company's stock, valued at approximately $5,202,000.

A number of other large investors have also made changes to their positions in GIS. Perkins Coie Trust Co raised its position in shares of General Mills by 69.2% during 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 acquired a new position in shares of General Mills during the fourth quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the first quarter valued at about $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of General Mills during the first quarter valued at about $37,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Mills during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Price Performance

GIS opened at $50.13 on Friday. General Mills, Inc. has a one year low of $48.59 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The company's 50 day simple moving average is $51.90 and its 200-day simple moving average is $55.99. The stock has a market capitalization of $27.19 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.24 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business 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 earnings per share. General Mills's revenue was down 3.3% compared to the same quarter last year. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business 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. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. This is an increase from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's payout ratio is currently 59.51%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. UBS Group dropped their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Morgan Stanley reissued an "underweight" rating and issued a $51.00 price target (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Finally, Barclays dropped their price target on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report 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 given a buy rating to the company's stock. According to data from MarketBeat, General Mills presently has an average rating of "Hold" and a consensus target price of $59.73.

About General Mills

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.

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