General Mills, Inc. $GIS Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in General Mills, Inc. by 1,868.2% during the 2nd quarter, acquiring a total of 53,476 shares valued at approximately $2.77 million.
• General Mills recently declared a quarterly dividend of $0.61 per share, with an upcoming payment date of November 3rd, reflecting a dividend yield of 5.1%.
• The company's stock has seen mixed analyst ratings, with an average target price of $55.82 and a consensus rating of "Hold", indicating cautious optimism among investors.

AlphaQuest LLC boosted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 1,868.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,476 shares of the company's stock after purchasing an additional 50,759 shares during the quarter. AlphaQuest LLC's holdings in General Mills were worth $2,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Kera Capital Partners Inc. bought a new stake in General Mills in the 2nd quarter valued at $222,000. Victory Capital Management Inc. lifted its position in shares of General Mills by 7.3% in the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock worth $31,245,000 after purchasing an additional 35,494 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of General Mills by 7.8% in the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock valued at $27,076,000 after purchasing an additional 32,628 shares during the period. Rock Point Advisors LLC acquired a new stake in shares of General Mills in the 1st quarter valued at approximately $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in General Mills by 126.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock worth $46,285,000 after purchasing an additional 431,693 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GIS has been the subject of several research reports. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and cut their target price for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. UBS Group decreased their price objective on General Mills from $49.00 to $47.00 and set a "sell" rating on the stock in a research note on Thursday, September 18th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $45.00 target price (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Mizuho reduced their price target on General Mills from $57.00 to $52.00 and set a "neutral" rating for the company in a research report on Friday, September 19th. Finally, Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $55.82.

General Mills Trading Down 0.2%

Shares of General Mills stock opened at $47.84 on Friday. General Mills, Inc. has a fifty-two week low of $47.48 and a fifty-two week high of $68.96. The firm has a market cap of $25.52 billion, a PE ratio of 9.04, a P/E/G ratio of 1.24 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The business's fifty day moving average is $49.58 and its two-hundred day moving average is $52.06.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for 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 business's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. Analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.1%. General Mills's payout ratio is presently 46.12%.

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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