Geode Capital Management LLC Purchases 170,587 Shares of General Mills, Inc. $GIS

Geode Capital Management LLC grew its position in General Mills, Inc. (NYSE:GIS) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,173,940 shares of the company’s stock after purchasing an additional 170,587 shares during the period. Geode Capital Management LLC owned about 2.80% of General Mills worth $786,954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its stake in General Mills by 0.4% in the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after buying an additional 185 shares during the last quarter. Eastern Bank grew its holdings in shares of General Mills by 0.8% in the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after acquiring an additional 186 shares in the last quarter. SPC Financial Inc. grew its holdings in shares of General Mills by 1.5% in 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. Arkfeld Wealth Strategies L.L.C. increased its position in shares of General Mills by 5.0% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock valued at $217,000 after acquiring an additional 200 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in General Mills by 0.8% during the first quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock worth $1,479,000 after acquiring an additional 202 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of recent analyst reports. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. HSBC cut their price target on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a research report on Wednesday, October 8th. Bernstein Bank lowered their price objective on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, Barclays dropped their target price on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, September 19th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.82.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $47.33 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a 52-week low of $45.80 and a 52-week high of $67.40. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.17 and a beta of -0.04. The business’s fifty day moving average is $48.80 and its 200 day moving average is $50.93.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate 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 was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. Research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.2%. General Mills’s payout ratio is currently 46.12%.

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.