QRG Capital Management Inc. Buys 20,459 Shares of General Mills, Inc. $GIS

Key Points

• QRG Capital Management Inc. increased its stake in General Mills, Inc. by 6.5% during the 2nd quarter, owning a total of 336,546 shares valued at approximately $17.4 million by quarter's end.
• General Mills reported an EPS of $0.86 for its latest quarter, surpassing expectations, but its revenue decreased by 6.8% year-over-year to $4.52 billion.
• The company announced a quarterly dividend of $0.61 per share, which will be paid out on November 3rd, resulting in a 4.8% dividend yield.

QRG Capital Management Inc. increased its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 336,546 shares of the company's stock after purchasing an additional 20,459 shares during the quarter. QRG Capital Management Inc. owned 0.06% of General Mills worth $17,436,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Procyon Advisors LLC bought a new position in shares of General Mills in the 1st quarter worth approximately $345,000. Perkins Coie Trust Co lifted 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 worth $31,000 after buying an additional 211 shares in the last quarter. UMB Bank n.a. boosted its position in shares of General Mills by 16.3% during the first quarter. UMB Bank n.a. now owns 24,057 shares of the company's stock worth $1,438,000 after acquiring an additional 3,370 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in General Mills by 4.1% during the first quarter. Miracle Mile Advisors LLC now owns 10,903 shares of the company's stock valued at $652,000 after acquiring an additional 430 shares in the last quarter. Finally, City Center Advisors LLC lifted its stake in General Mills by 3.4% in the 1st quarter. City Center Advisors LLC now owns 6,071 shares of the company's stock worth $363,000 after purchasing an additional 202 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

General Mills stock opened at $50.38 on Friday. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03. The firm has a 50-day moving average of $49.73 and a two-hundred day moving average of $53.01. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $73.78. 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 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 return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the firm posted $1.07 earnings per share. The business's revenue for the quarter was down 6.8% on a year-over-year basis. On average, research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid 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 4.8%. General Mills's dividend payout ratio (DPR) is currently 46.12%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday, September 18th. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Jefferies Financial Group reduced their price target on shares of General Mills from $51.00 to $50.00 and set a "hold" rating on the stock in a research report on Monday, September 8th. Bank of America decreased their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their target price for the stock from $67.00 to $63.00 in a report on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $55.82.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares of the company's stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by 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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