Pensionfund Sabic Buys New Holdings in General Mills, Inc. $GIS

Pensionfund Sabic purchased a new position in General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 20,000 shares of the company’s stock, valued at approximately $930,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Norges Bank purchased a new stake in General Mills during the 2nd quarter valued at approximately $417,508,000. Worldquant Millennium Advisors LLC bought a new position in shares of General Mills during the second quarter worth $84,862,000. Two Sigma Investments LP boosted its position in shares of General Mills by 82.8% during the third quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock worth $172,226,000 after acquiring an additional 1,546,993 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in General Mills by 22.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after acquiring an additional 1,383,913 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in General Mills by 15.9% during the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock valued at $494,548,000 after acquiring an additional 1,368,041 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of General Mills from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Weiss Ratings cut General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 13th. Stifel Nicolaus decreased their target price on General Mills from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Bank of America lowered General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research note on Monday, February 23rd. Finally, Morgan Stanley cut their price target on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $44.61.

General Mills Stock Performance

Shares of NYSE:GIS opened at $36.14 on Thursday. The firm has a fifty day simple moving average of $43.92 and a two-hundred day simple moving average of $46.35. General Mills, Inc. has a 52 week low of $35.63 and a 52 week high of $62.61. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $19.29 billion, a P/E ratio of 8.84 and a beta of -0.05.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. General Mills’s dividend payout ratio is 59.66%.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.