TD Asset Management Inc Has $45.80 Million Holdings in General Mills, Inc. (NYSE:GIS)

Key Points

• TD Asset Management Inc has decreased its holdings in General Mills, Inc. by 4.7%, now owning approximately 765,996 shares valued at $45.8 million.
• General Mills reported earnings per share of $0.74 for the last quarter, exceeding estimates, though revenue declined by 3.3% year-over-year.
• The company announced an increase in its quarterly dividend to $0.61 per share, reflecting a yield of 4.88% based on an annualized amount of $2.44.

TD Asset Management Inc decreased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 765,996 shares of the company's stock after selling 37,516 shares during the quarter. TD Asset Management Inc owned 0.14% of General Mills worth $45,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Perkins Coie Trust Co raised 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 valued at $31,000 after buying an additional 211 shares during the last quarter. Transce3nd LLC purchased a new position in General Mills during the fourth quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC bought a new position in General Mills in the 1st quarter worth $34,000. Heck Capital Advisors LLC acquired a new position in shares of General Mills in the 4th quarter valued at $38,000. Finally, Strategic Investment Solutions Inc. IL grew its holdings in shares of General Mills by 1,096.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock worth $39,000 after purchasing an additional 548 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GIS. Barclays decreased 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 research note on Thursday, June 26th. The Goldman Sachs Group cut General Mills from a "buy" rating to a "neutral" rating and reduced their target price for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Wall Street Zen downgraded General Mills from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Bank of America reduced their target price on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of "Hold" and an average price target of $59.73.

General Mills Trading Down 0.0%

Shares of GIS traded down $0.02 during trading hours on Friday, reaching $48.96. The stock had a trading volume of 2,876,286 shares, compared to its average volume of 5,602,577. The firm has a 50-day moving average of $52.33 and a 200 day moving average of $56.33. General Mills, Inc. has a 52 week low of $48.59 and a 52 week high of $75.90. 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 company has a market cap of $26.56 billion and a P/E ratio of 11.93.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating 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 firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.61 dividend. This is a boost from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, July 10th. General Mills's dividend payout ratio is presently 59.51%.

General Mills 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.