Jensen Investment Management Inc. Acquires 2,470 Shares of General Mills, Inc. $GIS

Jensen Investment Management Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 125,215 shares of the company’s stock after buying an additional 2,470 shares during the quarter. Jensen Investment Management Inc.’s holdings in General Mills were worth $6,487,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Garde Capital Inc. increased its stake in shares of General Mills by 101.5% during the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in General Mills during the second quarter valued at $32,000. GKV Capital Management Co. Inc. bought a new position in General Mills during the first quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in General Mills in the first quarter worth $37,000. Finally, Pingora Partners LLC raised its stake in shares of General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

GIS opened at $47.47 on Friday. The stock has a 50-day moving average price of $48.74 and a 200-day moving average price of $50.83. General Mills, Inc. has a 12-month low of $45.80 and a 12-month high of $67.40. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $25.32 billion, a P/E ratio of 8.97, a PEG ratio of 1.17 and a beta of -0.04.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders 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 dividend yield of 5.1%. General Mills’s payout ratio is 46.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GIS. Jefferies Financial Group lowered their price objective on General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, September 8th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price target (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Mizuho dropped their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, September 19th. Finally, Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $55.82.

Insider Activity at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.