18,689 Shares in General Mills, Inc. (GIS) Acquired by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC acquired a new position in General Mills, Inc. (NYSE:GIS) during the 2nd quarter, Holdings Channel reports. The fund acquired 18,689 shares of the company’s stock, valued at approximately $827,000.

A number of other hedge funds have also bought and sold shares of GIS. BlackRock Inc. raised its stake in shares of General Mills by 9.3% in the first quarter. BlackRock Inc. now owns 47,261,193 shares of the company’s stock valued at $2,129,588,000 after buying an additional 4,033,152 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of General Mills by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,682,121 shares of the company’s stock valued at $1,048,171,000 after buying an additional 598,315 shares during the period. Bank of New York Mellon Corp raised its stake in shares of General Mills by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock valued at $338,359,000 after buying an additional 46,939 shares during the period. Schroder Investment Management Group raised its stake in shares of General Mills by 36.4% in the first quarter. Schroder Investment Management Group now owns 4,915,769 shares of the company’s stock valued at $221,504,000 after buying an additional 1,311,067 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of General Mills by 22.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,794,743 shares of the company’s stock valued at $170,992,000 after buying an additional 705,650 shares during the period. 71.75% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on GIS. Piper Jaffray Companies set a $45.00 target price on General Mills and gave the company a “hold” rating in a research note on Thursday, July 12th. Sanford C. Bernstein restated a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Citigroup lowered their target price on General Mills from $61.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Finally, Bank of America restated a “hold” rating and issued a $49.00 target price on shares of General Mills in a research note on Wednesday, June 27th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $50.71.

NYSE:GIS opened at $45.47 on Tuesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.34 and a current ratio of 0.56. General Mills, Inc. has a 52-week low of $41.01 and a 52-week high of $60.69. The firm has a market cap of $26.81 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.74 and a beta of 0.77.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 27th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. General Mills had a return on equity of 35.14% and a net margin of 13.54%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. research analysts forecast that General Mills, Inc. will post 3.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.31%. General Mills’s payout ratio is 63.02%.

In other General Mills news, insider Peter C. Erickson sold 52,854 shares of the company’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $44.14, for a total value of $2,332,975.56. Following the transaction, the insider now directly owns 129,575 shares in the company, valued at approximately $5,719,440.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn P. Ogrady sold 82,244 shares of the company’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $45.50, for a total value of $3,742,102.00. Following the completion of the transaction, the insider now owns 187,948 shares in the company, valued at $8,551,634. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,018 shares of company stock worth $7,114,487. 1.40% 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 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.

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

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