Zurcher Kantonalbank Zurich Cantonalbank Has $13.29 Million Stock Holdings in General Mills, Inc. $GIS

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 285,747 shares of the company’s stock after selling 16,939 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of General Mills worth $13,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Belpointe Asset Management LLC grew its stake in shares of General Mills by 32.9% during the fourth quarter. Belpointe Asset Management LLC now owns 22,110 shares of the company’s stock worth $1,028,000 after buying an additional 5,474 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of General Mills by 75.3% during the fourth quarter. Krilogy Financial LLC now owns 28,472 shares of the company’s stock worth $1,271,000 after buying an additional 12,229 shares during the last quarter. Benedict Financial Advisors Inc. grew its stake in shares of General Mills by 1.6% during the fourth quarter. Benedict Financial Advisors Inc. now owns 96,662 shares of the company’s stock worth $4,495,000 after buying an additional 1,476 shares during the last quarter. Elevated Capital Advisors LLC bought a new stake in shares of General Mills during the fourth quarter worth $64,000. Finally, Sterling Investment Counsel LLC bought a new stake in shares of General Mills during the fourth quarter worth $171,000. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. Mizuho decreased their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Zacks Research cut shares of General Mills from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Weiss Ratings lowered shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 13th. Wells Fargo & Company lowered shares of General Mills from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $35.00 to $33.00 in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of General Mills from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $43.22.

General Mills Price Performance

Shares of NYSE:GIS opened at $35.17 on Thursday. The firm has a market cap of $18.77 billion, a PE ratio of 8.60 and a beta of 0.01. The firm’s fifty day moving average is $39.98 and its 200-day moving average is $44.40. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a 52 week low of $34.04 and a 52 week high of $57.85.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.General Mills’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. Sell-side analysts predict that General Mills, Inc. will post 3.44 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, April 10th. General Mills’s payout ratio is 59.66%.

General Mills Profile

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.