Raiffeisen Bank International AG Increases Stake in General Mills, Inc. (NYSE:GIS)

Key Points

• Raiffeisen Bank International AG increased its stake in General Mills, Inc. by 35.2%, now owning 228,308 shares valued at approximately $13.5 million.
• A recent analysis revealed fluctuating target prices for General Mills shares, with Barclays lowering its target from $60 to $54 and Morgan Stanley decreasing theirs from $53 to $51.
• General Mills announced a quarterly dividend increase to $0.61 per share, representing a 5.0% yield and a payout ratio of 59.51%.

Raiffeisen Bank International AG increased its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 35.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,308 shares of the company's stock after purchasing an additional 59,475 shares during the quarter. Raiffeisen Bank International AG's holdings in General Mills were worth $13,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Perkins Coie Trust Co grew its position in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the last quarter. Transce3nd LLC bought a new position in shares of General Mills in the fourth quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Mills in the first quarter worth $34,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in General Mills during the 1st quarter valued at $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Mills during the 4th quarter valued at $38,000. 75.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on GIS shares. Barclays dropped their target price on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, June 26th. Stifel Nicolaus dropped their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Morgan Stanley reissued an "underweight" rating and set a $51.00 target price (down from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, General Mills presently has an average rating of "Hold" and a consensus price target of $59.73.

General Mills Stock Performance

Shares of GIS opened at $48.94 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The stock has a market cap of $26.55 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.23 and a beta of -0.01. The business's 50 day moving average price is $52.24 and its 200-day moving average price is $56.25. General Mills, Inc. has a 52 week low of $48.59 and a 52 week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) 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 in the previous year, the business earned $1.01 earnings per share. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 5.0%. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is presently 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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