General Mills, Inc. (NYSE:GIS) Stake Raised by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,179 shares of the company’s stock after acquiring an additional 1,787 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in General Mills were worth $376,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GIS. JPMorgan Chase & Co. increased its stake in General Mills by 38.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,142,255 shares of the company’s stock worth $131,363,000 after purchasing an additional 594,404 shares in the last quarter. Capital International Investors increased its stake in General Mills by 62.7% in the 1st quarter. Capital International Investors now owns 25,347,517 shares of the company’s stock worth $1,554,359,000 after purchasing an additional 9,763,868 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its stake in General Mills by 40.7% in the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 59,104 shares of the company’s stock worth $3,624,000 after purchasing an additional 17,099 shares in the last quarter. Clark Capital Management Group Inc. increased its stake in General Mills by 2.3% in the 2nd quarter. Clark Capital Management Group Inc. now owns 362,644 shares of the company’s stock worth $22,096,000 after purchasing an additional 7,984 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in General Mills by 19.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 78,884 shares of the company’s stock worth $4,806,000 after purchasing an additional 12,763 shares in the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

In related news, insider Sean N. Walker sold 26,337 shares of the business’s stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $58.78, for a total value of $1,548,088.86. Following the completion of the sale, the insider now directly owns 105,647 shares in the company, valued at approximately $6,209,930.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Several research firms have weighed in on GIS. Jefferies Financial Group began coverage on General Mills in a research note on Wednesday, June 30th. They set a “hold” rating and a $63.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of General Mills in a research note on Wednesday, June 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $65.00 target price on shares of General Mills in a research note on Monday, June 28th. Finally, Credit Suisse Group cut General Mills from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $63.00 in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and three have issued 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 $63.89.

Shares of NYSE GIS traded up $0.21 during trading hours on Wednesday, hitting $58.98. The stock had a trading volume of 111,564 shares, compared to its average volume of 4,127,696. The firm’s 50-day moving average price is $58.92 and its two-hundred day moving average price is $60.28. General Mills, Inc. has a 52 week low of $53.96 and a 52 week high of $64.65. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market capitalization of $35.76 billion, a P/E ratio of 15.55, a P/E/G ratio of 2.06 and a beta of 0.57.

General Mills (NYSE:GIS) last posted its earnings results on Tuesday, June 29th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. General Mills had a return on equity of 25.61% and a net margin of 12.91%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company earned $1.10 EPS. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, analysts expect that General Mills, Inc. will post 3.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were issued a $0.51 dividend. The ex-dividend date was Thursday, July 8th. This represents a $2.04 annualized dividend and a yield of 3.46%. General Mills’s dividend payout ratio (DPR) is currently 53.83%.

About General Mills

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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