Bridge Creek Capital Management LLC Has $4.03 Million Position in General Mills, Inc. $GIS

Key Points

• Bridge Creek Capital Management has increased its holdings in General Mills, Inc. by 6.9%, now owning approximately $4.03 million worth of shares.
• General Mills reported earnings of $0.86 per share, exceeding analysts' expectations of $0.82, despite a 6.8% decline in revenue year-over-year.
• The company has recently increased its quarterly dividend to $0.61, reflecting a 4.8% yield and a payout ratio of 59.51%.

Bridge Creek Capital Management LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,801 shares of the company's stock after buying an additional 5,050 shares during the quarter. Bridge Creek Capital Management LLC's holdings in General Mills were worth $4,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock valued at $1,138,473,000 after buying an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of General Mills by 8.1% during the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock valued at $589,814,000 after purchasing an additional 741,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of General Mills by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company's stock valued at $428,213,000 after purchasing an additional 315,375 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Mills by 10.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock valued at $417,674,000 after purchasing an additional 634,393 shares in the last quarter. Finally, Invesco Ltd. raised its position in General Mills by 6.9% in the first quarter. Invesco Ltd. now owns 6,403,879 shares of the company's stock worth $382,888,000 after acquiring an additional 414,768 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Up 1.1%

Shares of NYSE GIS traded up $0.56 during trading hours on Friday, hitting $50.41. The stock had a trading volume of 15,033,316 shares, compared to its average volume of 5,807,454. The company has a market capitalization of $26.89 billion, a P/E ratio of 9.53, a P/E/G ratio of 1.27 and a beta of -0.02. The firm's 50-day moving average price is $49.78 and its two-hundred day moving average price is $53.78. General Mills, Inc. has a 52 week low of $48.29 and a 52 week high of $75.33. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.43 and a current ratio of 0.66.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company's revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. Analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given 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 dividend on an annualized basis and a yield of 4.8%. General Mills's dividend payout ratio (DPR) is currently 46.12%.

Analysts Set New Price Targets

GIS has been the subject of several research reports. Bank of America reduced their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Zacks Research upgraded shares of General Mills from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and lowered their target price for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Finally, Stifel Nicolaus lowered their target price 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. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, General Mills presently has a consensus rating of "Hold" and an average target price of $58.13.

General Mills 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.