OFI Invest Asset Management Has $7.53 Million Stake in General Mills, Inc. $GIS

Key Points

• OFI Invest Asset Management has reduced its stake in General Mills, Inc. (NYSE:GIS) by 3.7%, holding 145,411 shares valued at approximately $7.53 million as of the latest SEC filing.
• General Mills announced a quarterly dividend of $0.61 per share, representing a yield of 4.9%, with an upcoming payment date of November 3rd.
• The company's quarterly earnings exceeded analysts' expectations with an EPS of $0.86, while revenue saw a decline of 6.8% year-over-year, totaling $4.52 billion.

OFI Invest Asset Management trimmed its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,411 shares of the company's stock after selling 5,609 shares during the period. OFI Invest Asset Management's holdings in General Mills were worth $7,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kera Capital Partners Inc. acquired a new stake in shares of General Mills during the second quarter worth $222,000. Victory Capital Management Inc. grew its position in General Mills by 7.3% in the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock valued at $31,245,000 after purchasing an additional 35,494 shares in the last quarter. Commonwealth Equity Services LLC grew its position in 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 in the last quarter. Rock Point Advisors LLC bought a new position in General Mills in the first quarter valued at $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in General Mills by 126.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock valued at $46,285,000 after purchasing an additional 431,693 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GIS. HSBC decreased their target price on shares of General Mills from $59.00 to $57.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Stifel Nicolaus decreased their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Bank of America decreased their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of General Mills in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, General Mills has a consensus rating of "Hold" and a consensus price target of $55.82.

General Mills Stock Performance

Shares of GIS opened at $49.37 on Friday. The firm has a 50-day moving average of $49.78 and a 200-day moving average of $52.71. General Mills, Inc. has a one year low of $48.29 and a one year high of $72.55. The company has a market cap of $26.33 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 1.24 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company's quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, October 10th. General Mills's dividend payout ratio is currently 46.12%.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company's stock, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

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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