DoubleLine ETF Adviser LP Has $1.45 Million Stake in General Mills, Inc. (NYSE:GIS)

DoubleLine ETF Adviser LP lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.4% in the second quarter, Holdings Channel reports. The institutional investor owned 22,960 shares of the company’s stock after selling 2,381 shares during the period. DoubleLine ETF Adviser LP’s holdings in General Mills were worth $1,452,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Arkadios Wealth Advisors raised 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 valued at $2,309,000 after acquiring an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC bought a new position in General Mills in the fourth quarter worth $1,171,000. State Board of Administration of Florida Retirement System lifted its position in General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in General Mills by 92.5% in the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after buying an additional 23,411 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GIS shares. TD Cowen raised their price objective on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company raised their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. Citigroup boosted their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Evercore ISI dropped their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.73.

General Mills Stock Down 0.0 %

Shares of NYSE:GIS opened at $73.76 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market cap of $41.17 billion, a P/E ratio of 17.11, a P/E/G ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90. The company’s 50-day moving average price is $70.36 and its two-hundred day moving average price is $68.69.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. General Mills’s revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.25%. General Mills’s payout ratio is currently 55.68%.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

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.