General Mills, Inc. $GIS Stock Holdings Increased by Vise Technologies Inc.

Key Points

• Vise Technologies increased its General Mills stake by 72.3% in the third quarter, to 72,593 shares valued at about $2.34 million.
• Analyst sentiment was cautious: MarketBeat reported an average rating of “Reduce” and an average price target of $36.59, with more Hold and Sell ratings than Buy ratings.
• General Mills beat quarterly earnings and revenue estimates, reporting EPS of $0.75 and revenue of $4.39 billion, though revenue declined 2.8% year over year. Its quarterly dividend was $0.61 per share, equivalent to a 6.7% yield at the stock price cited.

Vise Technologies Inc. increased its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 72.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,593 shares of the company's stock after purchasing an additional 30,470 shares during the period. Vise Technologies Inc.'s holdings in General Mills were worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of General Mills in the second quarter worth $2,181,608,000. Bank of New York Mellon Corp purchased a new stake in shares of General Mills during the second quarter valued at $129,298,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of General Mills during the second quarter valued at $126,097,000. Legal & General Group Plc purchased a new stake in shares of General Mills during the second quarter valued at $121,707,000. Finally, Deutsche Bank AG acquired a new position in shares of General Mills in the 2nd quarter valued at $105,889,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $34.00 price target (up from $33.00) on shares of General Mills in a research report on Thursday, September 24th. Bank of America reiterated a "neutral" rating on shares of General Mills in a research note on Thursday, September 24th. Barclays increased their price objective on General Mills from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Friday, September 25th. Finally, Sanford C. Bernstein restated an "underperform" rating and issued a $30.00 price objective on shares of General Mills in a research note on Thursday, September 24th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of "Reduce" and an average price target of $36.59.

General Mills Stock Up 1.9%

GIS stock opened at $36.52 on Friday. The firm's fifty day simple moving average is $35.01 and its 200-day simple moving average is $37.42. The company has a market capitalization of $19.53 billion and a P/E ratio of -22.00. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.70 and a quick ratio of 0.39. General Mills, Inc. has a 12 month low of $31.17 and a 12 month high of $49.59.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 3.08 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Tuesday, October 13th. General Mills's dividend payout ratio (DPR) is currently -146.99%.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company's brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie's, Totino's, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.