AMF Tjanstepension AB Has $13.86 Million Stake in General Mills, Inc. (NYSE:GIS)

AMF Tjanstepension AB lifted its holdings in General Mills, Inc. (NYSE:GIS) by 67.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,887 shares of the company’s stock after acquiring an additional 79,777 shares during the period. AMF Tjanstepension AB’s holdings in General Mills were worth $13,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Operose Advisors LLC grew its position in shares of General Mills by 214.1% during the 3rd quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after buying an additional 274 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of General Mills during the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills in the 4th quarter valued at about $28,000. Rise Advisors LLC increased its position in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares in the last quarter. Finally, Fortis Group Advisors LLC increased its position in General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after buying an additional 229 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

General Mills Stock Down 0.7 %

GIS opened at $63.26 on Friday. The company has a market cap of $35.31 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 3.03 and a beta of 0.12. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $77.63. The company has a 50 day moving average of $68.51 and a 200 day moving average of $66.75. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, sell-side analysts expect that General Mills, Inc. will post 4.52 EPS for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, July 10th. General Mills’s payout ratio is currently 54.76%.

Analyst Ratings Changes

A number of brokerages have commented on GIS. Citigroup reduced their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday. TD Cowen raised their price objective on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Morgan Stanley boosted their target price on shares of General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Bank of America dropped their price target on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $70.44.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.