General Mills, Inc. (NYSE:GIS) Stock Position Increased by Choreo LLC

Choreo LLC increased its position in General Mills, Inc. (NYSE:GIS) by 135.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,122 shares of the company’s stock after buying an additional 13,858 shares during the quarter. Choreo LLC’s holdings in General Mills were worth $1,527,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of General Mills by 7.4% during the fourth quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock valued at $512,000 after purchasing an additional 539 shares during the last quarter. Aveo Capital Partners LLC purchased a new stake in shares of General Mills in the 4th quarter valued at approximately $213,000. Envestnet Portfolio Solutions Inc. boosted its stake in General Mills by 14.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,890 shares of the company’s stock worth $775,000 after purchasing an additional 1,459 shares during the period. Ieq Capital LLC grew its position in General Mills by 36.1% during the 4th quarter. Ieq Capital LLC now owns 22,225 shares of the company’s stock worth $1,448,000 after purchasing an additional 5,896 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in General Mills by 106.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after purchasing an additional 1,778,345 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of General Mills stock opened at $73.11 on Thursday. The stock has a market capitalization of $40.81 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 4.25 and a beta of 0.10. The firm has a fifty day simple moving average of $68.31 and a 200-day simple moving average of $68.05. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating 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 analysts’ expectations of $4.85 billion. During the same period in the prior year, the business earned $1.12 earnings per share. General Mills’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analyst Upgrades and Downgrades

GIS has been the subject of several recent analyst reports. Evercore ISI decreased their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Stifel Nicolaus lowered their price target 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. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Finally, Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and an average price target of $69.07.

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.