General Mills, Inc. $GIS Shares Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its stake in General Mills by 12.9% in the second quarter, owning 399,127 shares worth approximately $20.68 million at the end of the quarter.
• Insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock, representing a 5.67% decrease in her ownership, with the shares sold valued at around $200,160.
• General Mills declared a quarterly dividend of $0.61 per share, with a dividend yield of 5.1%, to be paid on November 3rd, indicating a payout ratio of 46.12%.

Asset Management One Co. Ltd. raised its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,127 shares of the company's stock after purchasing an additional 45,643 shares during the period. Asset Management One Co. Ltd. owned 0.07% of General Mills worth $20,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GIS. AlTi Global Inc. raised its position in shares of General Mills by 6.6% during the 2nd quarter. AlTi Global Inc. now owns 5,424 shares of the company's stock worth $281,000 after purchasing an additional 334 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in General Mills by 15.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 9,023 shares of the company's stock worth $467,000 after buying an additional 1,196 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of General Mills during the second quarter valued at approximately $713,000. LifeWealth Investments LLC purchased a new position in shares of General Mills in the second quarter valued at approximately $365,000. Finally, Ethic Inc. boosted its stake in shares of General Mills by 5.9% in the second quarter. Ethic Inc. now owns 124,210 shares of the company's stock worth $6,275,000 after acquiring an additional 6,921 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insider Activity

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIS. 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 report on Thursday, September 18th. Mizuho decreased their price target on shares of General Mills from $57.00 to $52.00 and set a "neutral" rating on the stock in a research note on Friday, September 19th. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. HSBC cut their price objective on shares of General Mills from $59.00 to $57.00 and set a "hold" rating for the company in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $45.00 target price (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.82.

General Mills Stock Performance

NYSE:GIS opened at $47.42 on Friday. The company's 50-day moving average is $49.53 and its two-hundred day moving average is $51.97. General Mills, Inc. has a 1-year low of $47.27 and a 1-year high of $68.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 1.20 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the company earned $1.07 EPS. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 5.1%. General Mills's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.