KLP Kapitalforvaltning AS Acquires 71,900 Shares of General Mills, Inc. $GIS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in General Mills, Inc. by 11.8% during the second quarter, acquiring an additional 71,900 shares and now owns approximately 0.13% of the company valued at $35.2 million.
• General Mills announced a quarterly dividend of $0.61 per share, which will be paid on November 3rd, reflecting an annual yield of 4.8%.
• In its latest quarterly earnings report, General Mills posted $0.86 EPS, exceeding expectations of $0.82, despite a 6.8% decline in revenue compared to the previous year.

KLP Kapitalforvaltning AS lifted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 11.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 679,618 shares of the company's stock after acquiring an additional 71,900 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.13% of General Mills worth $35,211,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Seamount Financial Group Inc. lifted its holdings in shares of General Mills by 6.5% during the 2nd quarter. Seamount Financial Group Inc. now owns 7,219 shares of the company's stock worth $374,000 after acquiring an additional 439 shares during the period. Capital Advisors Inc. OK lifted its holdings in General Mills by 25.4% during the 2nd quarter. Capital Advisors Inc. OK now owns 572,870 shares of the company's stock valued at $29,680,000 after purchasing an additional 115,954 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in General Mills by 38.1% during the 2nd quarter. Belpointe Asset Management LLC now owns 24,960 shares of the company's stock valued at $1,293,000 after purchasing an additional 6,880 shares during the last quarter. Eads & Heald Wealth Management lifted its holdings in General Mills by 8.5% during the 2nd quarter. Eads & Heald Wealth Management now owns 10,995 shares of the company's stock valued at $570,000 after purchasing an additional 865 shares during the last quarter. Finally, Autumn Glory Partners LLC lifted its holdings in General Mills by 20.1% during the 2nd quarter. Autumn Glory Partners LLC now owns 4,595 shares of the company's stock valued at $238,000 after purchasing an additional 770 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills 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 completion of the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

General Mills Trading Up 1.5%

GIS opened at $50.92 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $27.16 billion, a PE ratio of 9.63, a PEG ratio of 1.27 and a beta of -0.03. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $72.82. The firm has a 50-day moving average price of $49.76 and a two-hundred day moving average price of $52.90.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share 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 during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the company posted $1.07 EPS. The company's quarterly revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal 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 given 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 4.8%. General Mills's payout ratio is currently 46.12%.

Analyst Upgrades and Downgrades

GIS has been the subject of several analyst reports. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. Barclays decreased their price target on General Mills from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Friday, September 19th. Royal Bank Of Canada upgraded 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 research report on Thursday, June 26th. UBS Group decreased their price target on General Mills from $49.00 to $47.00 and set a "sell" rating on the stock in a research report on Thursday, September 18th. Finally, Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $55.82.

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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