Envestnet Asset Management Inc. Raises Stock Holdings in General Mills, Inc. (NYSE:GIS)

Envestnet Asset Management Inc. increased its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 703,251 shares of the company's stock after purchasing an additional 62,206 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of General Mills worth $42,047,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GIS. Norges Bank bought a new position in shares of General Mills in the fourth quarter worth approximately $496,484,000. Ameriprise Financial Inc. increased its position in shares of General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock worth $581,903,000 after purchasing an additional 2,341,137 shares during the last quarter. Vanguard Group Inc. increased its position in shares of General Mills by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock worth $4,376,573,000 after purchasing an additional 1,868,508 shares during the last quarter. LSV Asset Management increased its position in shares of General Mills by 115.2% in the fourth quarter. LSV Asset Management now owns 2,817,780 shares of the company's stock worth $179,690,000 after purchasing an additional 1,508,680 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of General Mills by 18.4% in the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company's stock worth $514,101,000 after purchasing an additional 1,253,483 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $51.60 on Friday. The stock has a market cap of $27.99 billion and a P/E ratio of 12.59. The firm's fifty day simple moving average is $53.49 and its 200 day simple moving average is $57.45. General Mills, Inc. has a twelve month low of $49.86 and a twelve month high of $75.90. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38.

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

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.61 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.44 annualized dividend and a yield of 4.73%. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio (DPR) is currently 59.51%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho reduced their price target on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price target for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a research report on Saturday. UBS Group cut their target price on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a report on Thursday, June 26th. Finally, Morgan Stanley restated an "underweight" rating and issued a $51.00 target price (down previously from $53.00) on shares of General Mills in a report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $59.73.

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.

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