nVerses Capital LLC Increases Holdings in General Mills, Inc. (NYSE:GIS)

nVerses Capital LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 600.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the company’s stock after purchasing an additional 2,400 shares during the quarter. nVerses Capital LLC’s holdings in General Mills were worth $177,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arkadios Wealth Advisors increased its holdings in General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after acquiring an additional 10,765 shares during the last quarter. Optimist Retirement Group LLC bought a new stake in General Mills in the 4th quarter valued at about $1,171,000. State Board of Administration of Florida Retirement System raised its stake in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in General Mills by 122.7% in the 4th quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after acquiring an additional 13,043 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GIS. Stifel Nicolaus lowered their price objective on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $62.00 to $70.00 in a research note on Wednesday, May 15th. Evercore ISI lowered their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. reduced their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Mizuho reduced their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.71.

General Mills Stock Up 1.3 %

Shares of NYSE GIS opened at $72.29 on Monday. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $74.45. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $40.35 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 4.09 and a beta of 0.09. The business has a 50-day moving average of $66.81 and a 200-day moving average of $67.56.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. General Mills’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.32%. General Mills’s payout ratio is presently 55.68%.

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.