Sicart Associates LLC Purchases New Holdings in General Mills, Inc. $GIS

Key Points

• Sicart Associates LLC has acquired a new position in General Mills, purchasing 6,958 shares worth approximately $361,000 during the second quarter.
• Several institutional investors have significantly increased their holdings in General Mills, with Charles Schwab Investment Management lifting its stake by 434.8% in the first quarter.
• General Mills recently announced a quarterly dividend of $0.61 per share, resulting in a yield of 4.8%, with the ex-dividend date set for October 10th.

Sicart Associates LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,958 shares of the company's stock, valued at approximately $361,000.

Several other institutional investors have also modified their holdings of GIS. Charles Schwab Investment Management Inc. lifted its stake in General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock valued at $1,138,473,000 after buying an additional 15,480,835 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of General Mills during the first quarter valued at about $279,570,000. Pacer Advisors Inc. grew its stake in shares of General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock valued at $205,916,000 after acquiring an additional 3,373,338 shares in the last quarter. Nuveen LLC bought a new position in shares of General Mills during the first quarter worth about $92,717,000. Finally, GAMMA Investing LLC lifted its holdings in General Mills by 6,607.0% in the first quarter. GAMMA Investing LLC now owns 1,171,705 shares of the company's stock worth $70,056,000 after acquiring an additional 1,154,235 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

Wall Street Analyst Weigh In

GIS has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $68.00 to $58.00 in a research note on Monday, June 9th. HSBC dropped their price objective on shares of General Mills from $59.00 to $57.00 and set a "hold" rating on the stock in a report on Thursday, September 18th. Morgan Stanley reduced their price target on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, September 15th. Stifel Nicolaus reduced their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, Mizuho lowered their target price on shares of General Mills from $57.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, September 19th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $55.82.

Insider Activity at General Mills

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

General Mills Trading Up 1.5%

General Mills stock opened at $50.42 on Wednesday. General Mills, Inc. has a one year low of $48.29 and a one year high of $74.85. The stock has a market cap of $26.90 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.25 and a beta of -0.02. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a 50-day moving average of $49.77 and a two-hundred day moving average of $53.21.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $4.52 billion. During the same period last year, the business posted $1.07 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, October 10th. General Mills's dividend payout ratio is currently 46.12%.

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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