4,396 Shares in General Mills, Inc. (NYSE:GIS) Purchased by Norden Group LLC

Norden Group LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the first quarter, Holdings Channel reports. The institutional investor bought 4,396 shares of the company’s stock, valued at approximately $308,000.

Other hedge funds have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Mills during the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills during the 4th quarter worth about $28,000. Rise Advisors LLC increased its position in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares in the last quarter. Finally, Fortis Group Advisors LLC increased its position in shares of General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

General Mills Stock Performance

Shares of NYSE:GIS opened at $63.03 on Friday. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 3.54 and a beta of 0.09. The firm’s 50 day simple moving average is $66.96 and its 200 day simple moving average is $66.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $77.63.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company decreased their price objective on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Morgan Stanley increased their price objective on shares of General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Barclays decreased their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Finally, Mizuho decreased their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $70.00.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.