Norden Group LLC Purchases 1,202 Shares of General Mills, Inc. (NYSE:GIS)

Norden Group LLC raised its position in General Mills, Inc. (NYSE:GIS) by 27.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,598 shares of the company’s stock after acquiring an additional 1,202 shares during the quarter. Norden Group LLC’s holdings in General Mills were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIS. Rise Advisors LLC increased its holdings in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares during the last quarter. RFP Financial Group LLC increased its stake in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the period. Perkins Coie Trust Co raised its holdings in shares of General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its holdings in General Mills by 65.5% in the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after acquiring an additional 180 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on GIS shares. JPMorgan Chase & Co. dropped their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Stifel Nicolaus cut their price objective on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.07.

General Mills Stock Performance

Shares of General Mills stock opened at $75.06 on Monday. The stock has a market cap of $41.89 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 4.09 and a beta of 0.10. 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 1 year low of $60.33 and a 1 year high of $75.54. The firm’s 50-day moving average is $67.64 and its 200 day moving average is $67.88.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (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 revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 4.49 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.60 dividend. 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 dividend on an annualized basis and a dividend yield of 3.20%. General Mills’s dividend payout ratio (DPR) 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.