General Mills, Inc. $GIS Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 64.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 753,702 shares of the company’s stock after acquiring an additional 295,990 shares during the period. Prudential Financial Inc. owned approximately 0.14% of General Mills worth $39,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Benjamin Edwards Inc. raised its stake in shares of General Mills by 0.4% during the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after purchasing an additional 185 shares during the period. Eastern Bank grew its holdings in General Mills by 0.8% during the 1st quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after purchasing an additional 186 shares in the last quarter. SPC Financial Inc. increased its stake in General Mills by 1.5% during the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock worth $804,000 after buying an additional 193 shares during the period. Arkfeld Wealth Strategies L.L.C. lifted its holdings in General Mills by 5.0% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock worth $217,000 after buying an additional 200 shares in the last quarter. Finally, ICW Investment Advisors LLC boosted its position in General Mills by 0.8% in the 1st quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock valued at $1,479,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS opened at $47.04 on Tuesday. 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 company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a twelve month low of $45.80 and a twelve month high of $67.40. The business has a 50 day simple moving average of $48.45 and a 200-day simple moving average of $50.48.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. General Mills’s payout ratio is 46.12%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Barclays dropped their price objective on General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, September 19th. Bernstein Bank cut their target price on 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. Morgan Stanley decreased their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, September 15th. Finally, 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. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

General Mills 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.