MBB Public Markets I LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

MBB Public Markets I LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,999 shares of the company’s stock, valued at approximately $2,657,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Rise Advisors LLC lifted its position in shares of General Mills by 199.3% in the first 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 boosted its position in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the last quarter. Fortis Group Advisors LLC grew its stake in General Mills by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after purchasing an additional 229 shares in the last quarter. RFP Financial Group LLC increased its position in General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in shares of General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on GIS shares. Mizuho decreased their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. Barclays boosted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. 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 report on Friday, June 28th. Finally, TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.73.

Insiders Place Their Bets

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $74.38 on Friday. The stock has a market capitalization of $41.51 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90. The firm has a 50 day moving average of $70.90 and a 200-day moving average of $68.85. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is presently 55.68%.

General Mills 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.