Swiss National Bank Sells 13,600 Shares of General Mills, Inc. (NYSE:GIS)

Key Points

• Swiss National Bank reduced its holdings in General Mills, Inc. by 0.9%, owning approximately 1,554,700 shares valued at $92,956,000 as of its latest filing.
• Charles Schwab Investment Management significantly increased its stake in General Mills by 434.8%, now holding over 19 million shares valued at approximately $1.14 billion.
• The company recently declared a quarterly dividend of $0.61 per share, reflecting a 4.9% yield, up from the previous dividend of $0.60.

Swiss National Bank reduced its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,554,700 shares of the company's stock after selling 13,600 shares during the period. Swiss National Bank owned approximately 0.28% of General Mills worth $92,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in GIS. Perkins Coie Trust Co lifted its stake in General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after purchasing an additional 211 shares during the last quarter. Transce3nd LLC acquired a new position in shares of General Mills during the fourth quarter worth $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the first quarter worth $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of General Mills during the first quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Mills during the fourth quarter worth $38,000. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Stifel Nicolaus lowered their price target on shares of 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 restated an "underweight" rating and issued a $51.00 price objective (down from $53.00) on shares of General Mills in a report on Tuesday, June 24th. Finally, Barclays decreased their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, June 26th. Two 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $59.73.

General Mills Price Performance

NYSE:GIS traded down $0.13 during trading hours on Tuesday, hitting $49.22. The stock had a trading volume of 6,276,646 shares, compared to its average volume of 5,285,617. General Mills, Inc. has a one year low of $48.59 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The firm has a market capitalization of $26.70 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.24 and a beta of -0.01. The company has a 50 day simple moving average of $51.61 and a two-hundred day simple moving average of $55.75.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter last year, the company earned $1.01 EPS. The firm's revenue was down 3.3% compared to the same quarter last year. Research analysts forecast 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. Stockholders of record on Thursday, July 10th were paid a $0.61 dividend. This is a boost from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, July 10th. General Mills's payout ratio is currently 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.