Y Intercept Hong Kong Ltd Has $851,000 Stake in General Mills, Inc. (NYSE:GIS)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in General Mills by 59% in Q1, owning 14,235 shares valued at $851,000 after selling 20,486 shares.
• General Mills recently reported an EPS of $0.74, beating analysts' estimates, although its revenue decreased by 3.3% year-over-year to $4.56 billion.
• The company declared a quarterly dividend of $0.61, representing an annualized dividend yield of 4.77%, with an increased dividend from the previous quarter.

Y Intercept Hong Kong Ltd lowered its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 59.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,235 shares of the company's stock after selling 20,486 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in General Mills were worth $851,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GIS. Perkins Coie Trust Co raised its stake in 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 purchasing an additional 211 shares in the last quarter. Transce3nd LLC acquired a new position in General Mills in the fourth quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new position in General Mills in the first quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new position in General Mills in the fourth quarter valued at about $38,000. Finally, Strategic Investment Solutions Inc. IL raised its stake in General Mills by 1,096.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock valued at $39,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on GIS shares. UBS Group dropped their price target on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and dropped their target price for the stock from $67.00 to $63.00 in a report on Thursday, June 26th. Bank of America dropped their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, The Goldman Sachs Group cut shares of General Mills from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.73.

General Mills Stock Performance

NYSE:GIS opened at $51.10 on Friday. The stock's 50-day moving average is $52.69 and its 200-day moving average is $56.62. General Mills, Inc. has a 1-year low of $49.04 and a 1-year high of $75.90. The stock has a market cap of $27.72 billion and a P/E ratio of 12.46. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38.

General Mills (NYSE:GIS - Get Free Report) last released 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 return on equity of 24.88% and a net margin of 11.78%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business's revenue was down 3.3% on a year-over-year basis. Equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's payout ratio is 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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