TD Asset Management Inc Raises Stock Holdings in General Mills, Inc. $GIS

Key Points

• TD Asset Management Inc raised its position in General Mills, Inc. by 2.4%, owning approximately 0.14% of the company, valued at $40.63 million.
• Several institutional investors significantly increased their stakes in General Mills during the first quarter, with Charles Schwab Investment Management growing its position by 434.8%.
• The company announced a quarterly dividend of $0.61, representing an annualized yield of 5.1%.

TD Asset Management Inc increased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784,234 shares of the company's stock after acquiring an additional 18,238 shares during the period. TD Asset Management Inc owned approximately 0.14% of General Mills worth $40,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Charles Schwab Investment Management Inc. grew its position in General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after purchasing an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in General Mills during the 1st quarter worth about $279,570,000. Pacer Advisors Inc. grew its position in General Mills by 4,775.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock worth $205,916,000 after purchasing an additional 3,373,338 shares during the period. Nuveen LLC acquired a new stake in General Mills during the 1st quarter worth about $92,717,000. Finally, Federated Hermes Inc. grew its position in General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company's stock worth $90,908,000 after purchasing an additional 973,798 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GIS has been the topic of several analyst reports. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Morgan Stanley cut their price target on General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, September 15th. Bank of America dropped their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. HSBC dropped their target price on General Mills from $59.00 to $57.00 and set a "hold" rating on the stock in a research report on Thursday, September 18th. Finally, Stifel Nicolaus dropped their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $55.82.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm's 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 approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company's stock.

General Mills Trading Down 0.1%

Shares of General Mills stock opened at $47.70 on Friday. The firm has a market capitalization of $25.44 billion, a PE ratio of 9.02, a P/E/G ratio of 1.20 and a beta of -0.03. General Mills, Inc. has a twelve month low of $47.48 and a twelve month high of $71.00. The firm's 50-day moving average price is $49.67 and its 200 day moving average price is $52.44. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. General Mills's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.1%. General Mills's dividend payout ratio (DPR) is currently 46.12%.

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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