QRG Capital Management Inc. Grows Stock Holdings in General Mills, Inc. $GIS

QRG Capital Management Inc. lifted its position in General Mills, Inc. (NYSE:GIS) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 336,546 shares of the company’s stock after buying an additional 20,459 shares during the period. QRG Capital Management Inc.’s holdings in General Mills were worth $17,436,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Perpetual Ltd boosted its position in shares of General Mills by 3.5% in the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock worth $324,000 after purchasing an additional 184 shares in the last quarter. Conning Inc. raised its stake in General Mills by 4.6% in the first quarter. Conning Inc. now owns 4,212 shares of the company’s stock valued at $252,000 after buying an additional 185 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in General Mills by 0.4% in the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock worth $3,127,000 after acquiring an additional 185 shares in the last quarter. Eastern Bank boosted its holdings in General Mills by 0.8% in the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock worth $1,484,000 after acquiring an additional 186 shares in the last quarter. Finally, SPC Financial Inc. increased its holdings in shares of General Mills by 1.5% during the first quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS opened at $50.38 on Friday. General Mills, Inc. has a one year low of $48.29 and a one year high of $73.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The firm has a fifty day moving average of $49.73 and a 200 day moving average of $53.01. The firm has a market cap of $26.87 billion, a PE ratio of 9.52, a PEG ratio of 1.27 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 4.8%. General Mills’s payout ratio is 46.12%.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on GIS. Royal Bank Of Canada upgraded shares of General Mills from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Barclays lowered their price objective on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, September 19th. Bernstein Bank reduced their target price on General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, September 18th. Stifel Nicolaus lowered their price target on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Finally, Bank of America cut their price objective on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.82.

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.