New York Life Investment Management LLC Grows Stock Holdings in General Mills, Inc. $GIS

New York Life Investment Management LLC raised its position in shares of General Mills, Inc. (NYSE:GIS) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,659 shares of the company’s stock after buying an additional 686 shares during the period. New York Life Investment Management LLC’s holdings in General Mills were worth $4,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GIS. Charles Schwab Investment Management Inc. boosted its position in shares of General Mills by 434.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock worth $1,138,473,000 after buying an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of General Mills during the first quarter worth $279,570,000. Pacer Advisors Inc. boosted its position in shares of General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock worth $205,916,000 after buying an additional 3,373,338 shares during the period. Nuveen LLC purchased a new position in shares of General Mills during the first quarter worth $92,717,000. Finally, Federated Hermes Inc. boosted its position in shares of General Mills by 178.1% during the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock worth $90,908,000 after buying an additional 973,798 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

General Mills Stock Up 1.0%

General Mills stock opened at $47.06 on Friday. General Mills, Inc. has a 1-year low of $46.46 and a 1-year high of $68.89. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market cap of $25.10 billion, a PE ratio of 8.90, a P/E/G ratio of 1.17 and a beta of -0.03. The stock’s fifty day moving average is $49.36 and its two-hundred day moving average is $51.68.

General Mills (NYSE:GIS) last posted its quarterly earnings results 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. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the firm earned $1.07 earnings per share. General Mills’s quarterly revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GIS shares. 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 report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. HSBC decreased their target price on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. UBS Group decreased their target price on General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a report on Thursday, September 18th. Finally, Jefferies Financial Group decreased their target price on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a report on Monday, September 8th. 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. According to MarketBeat, the company 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.