General Mills, Inc. (NYSE:GIS) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in General Mills by 15.2% during the first quarter, owning 313,077 shares worth approximately $18.7 million.
• General Mills reported a quarterly earnings per share of $0.74, beating estimates, although revenue fell by 3.3% year-over-year.
• The company declared a quarterly dividend of $0.61, marking a slight increase from the previous dividend, which represents an annualized yield of 4.9%.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in General Mills, Inc. (NYSE:GIS - Free Report) by 15.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,077 shares of the company's stock after acquiring an additional 41,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.06% of General Mills worth $18,719,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GIS. Perkins Coie Trust Co boosted its holdings in shares of General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after acquiring an additional 211 shares during the period. Transce3nd LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills during the first quarter worth $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of General Mills during the first quarter worth $34,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of General Mills during the first quarter worth $37,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and decreased their price target for the stock from $67.00 to $63.00 in a report on Thursday, June 26th. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Bank of America decreased their price target on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, The Goldman Sachs Group downgraded General Mills from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $59.73.

General Mills Trading Up 1.2%

Shares of GIS stock opened at $49.74 on Thursday. General Mills, Inc. has a fifty-two week low of $48.59 and a fifty-two week high of $75.90. The stock has a market cap of $26.98 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.24 and a beta of -0.01. The business has a fifty day simple moving average of $51.51 and a 200-day simple moving average of $55.71. 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 announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The business had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.61 dividend. 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 dividend yield of 4.9%. The ex-dividend date was Thursday, July 10th. General Mills's dividend payout ratio (DPR) is 59.51%.

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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