Bank of New York Mellon Corp Acquires 207,346 Shares of General Mills, Inc. (NYSE:GIS)

Bank of New York Mellon Corp grew its holdings in General Mills, Inc. (NYSE:GIS) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,004,777 shares of the company’s stock after purchasing an additional 207,346 shares during the quarter. Bank of New York Mellon Corp’s holdings in General Mills were worth $255,385,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in General Mills by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,289 shares of the company’s stock valued at $3,517,000 after acquiring an additional 8,053 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of General Mills by 5.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,669 shares of the company’s stock worth $4,775,000 after purchasing an additional 3,065 shares during the last quarter. Boston Financial Mangement LLC lifted its stake in shares of General Mills by 38.4% during the 3rd quarter. Boston Financial Mangement LLC now owns 6,114 shares of the company’s stock worth $452,000 after purchasing an additional 1,695 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in General Mills during the third quarter valued at about $221,000. Finally, Diversify Advisory Services LLC grew its stake in General Mills by 87.8% in the third quarter. Diversify Advisory Services LLC now owns 15,608 shares of the company’s stock valued at $1,078,000 after purchasing an additional 7,299 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays decreased their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus lowered their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Finally, Bank of America dropped their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.06.

General Mills Stock Performance

GIS opened at $59.28 on Thursday. The firm has a 50 day moving average of $60.63 and a two-hundred day moving average of $66.38. The firm has a market capitalization of $32.68 billion, a PE ratio of 12.89, a P/E/G ratio of 1.94 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.