DT Investment Partners LLC Boosts Stock Position in General Mills, Inc. (NYSE:GIS)

DT Investment Partners LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,677 shares of the company’s stock after buying an additional 2,165 shares during the quarter. DT Investment Partners LLC’s holdings in General Mills were worth $4,226,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. increased its holdings in General Mills by 15.8% in the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after buying an additional 6,544,997 shares during the last quarter. Vanguard Group Inc. increased its holdings in General Mills by 1.4% in the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock valued at $2,477,631,000 after buying an additional 643,774 shares during the last quarter. Invesco Ltd. increased its holdings in General Mills by 0.9% in the second quarter. Invesco Ltd. now owns 18,063,593 shares of the company’s stock valued at $948,701,000 after buying an additional 159,380 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of General Mills by 44.6% during the second quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after purchasing an additional 1,639,900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of General Mills by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,750,965 shares of the company’s stock worth $249,521,000 after purchasing an additional 154,410 shares during the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Jonathon Nudi sold 18,951 shares of General Mills stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the completion of the sale, the insider now directly owns 81,656 shares in the company, valued at approximately $4,451,885.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kofi A. Bruce sold 15,582 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the sale, the insider now owns 35,487 shares of the company’s stock, valued at $1,928,008.71. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Shares of NYSE:GIS opened at $52.50 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51. The company has a market cap of $31.18 billion, a P/E ratio of 16.30, a PEG ratio of 2.19 and a beta of 0.71. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $56.40. The company has a 50-day moving average price of $52.93 and a 200 day moving average price of $52.93.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. Analysts expect that General Mills, Inc. will post 3.36 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.73%. General Mills’s payout ratio is 60.87%.

Several equities analysts have issued reports on the company. Edward Jones raised General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Credit Suisse Group reaffirmed a “hold” rating and set a $56.00 price objective on shares of General Mills in a report on Thursday, September 12th. Barclays reaffirmed a “hold” rating and set a $55.00 price objective on shares of General Mills in a report on Friday, September 20th. Stifel Nicolaus raised their price objective on General Mills from $52.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Finally, Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and an average target price of $53.82.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

Further Reading: Oversold

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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