Generali Asset Management SPA SGR Buys 2,067 Shares of General Mills, Inc. $GIS

Generali Asset Management SPA SGR raised its stake in General Mills, Inc. (NYSE:GIS) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,431 shares of the company’s stock after acquiring an additional 2,067 shares during the quarter. Generali Asset Management SPA SGR’s holdings in General Mills were worth $4,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Garde Capital Inc. lifted its holdings in shares of General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after acquiring an additional 264 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of General Mills in the first quarter valued at approximately $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of General Mills in the first quarter valued at approximately $37,000. Finally, Pingora Partners LLC increased 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.

Insider Activity

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the 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 transaction, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

Shares of GIS stock opened at $47.80 on Thursday. The company has a market cap of $25.49 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03. General Mills, Inc. has a 52 week low of $47.71 and a 52 week high of $71.48. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average of $49.72 and a 200-day moving average of $52.53.

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

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.1%. General Mills’s dividend payout ratio (DPR) is 46.12%.

Analyst Ratings Changes

Several research firms have recently issued reports on GIS. Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of General Mills in a research note on Wednesday, October 8th. HSBC lowered their price objective on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $45.00 target price (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and an average price target of $55.82.

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.