Advisor Partners LLC Acquires 5,621 Shares of General Mills, Inc. (GIS)
Advisor Partners LLC grew its holdings in General Mills, Inc. (NYSE:GIS) by 49.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,051 shares of the company’s stock after purchasing an additional 5,621 shares during the quarter. Advisor Partners LLC’s holdings in General Mills were worth $882,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Norges Bank purchased a new position in shares of General Mills in the fourth quarter valued at approximately $208,406,000. Oregon Public Employees Retirement Fund lifted its stake in General Mills by 3,788.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock worth $65,000 after acquiring an additional 2,466,013 shares during the last quarter. BlackRock Inc. lifted its stake in General Mills by 2.6% in the fourth quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock worth $1,593,046,000 after acquiring an additional 1,049,722 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in General Mills in the fourth quarter worth approximately $33,087,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in General Mills by 1,566.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 728,867 shares of the company’s stock worth $28,382,000 after acquiring an additional 685,139 shares during the last quarter. 68.88% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:GIS opened at $51.01 on Wednesday. The company has a market cap of $31.04 billion, a PE ratio of 16.40, a P/E/G ratio of 2.20 and a beta of 0.78. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $52.17.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.84%. General Mills’s dividend payout ratio is presently 63.02%.
GIS has been the subject of a number of recent research reports. Deutsche Bank upgraded shares of General Mills from a “hold” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $54.00 in a research note on Thursday, March 14th. ValuEngine upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. TheStreet upgraded shares of General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Wells Fargo & Co lifted their price target on shares of General Mills from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Finally, Standpoint Research initiated coverage on shares of General Mills in a research note on Wednesday, December 26th. They issued a “buy” rating and a $37.59 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $49.91.
In other news, insider John R. Church sold 4,719 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the sale, the insider now owns 34,112 shares in the company, valued at approximately $1,732,207.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi J. Benson sold 5,054 shares of General Mills stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $50.51, for a total transaction of $255,277.54. Following the completion of the transaction, the insider now directly owns 38,212 shares in the company, valued at $1,930,088.12. The disclosure for this sale can be found here. Insiders have sold a total of 452,071 shares of company stock valued at $22,112,181 in the last 90 days. Insiders own 0.59% of the company’s stock.
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About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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