General Mills, Inc. (NYSE:GIS) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,395 shares of the company’s stock after acquiring an additional 1,350 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in General Mills were worth $3,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIS. Vanguard Group Inc. boosted its holdings in General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after buying an additional 2,488,341 shares in the last quarter. American Century Companies Inc. lifted its holdings in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. boosted its stake in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of General Mills during the first quarter worth approximately $36,177,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Citigroup upped their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Evercore ISI decreased their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Finally, Bank of America boosted their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $71.93.

General Mills Price Performance

GIS stock opened at $74.90 on Friday. The company has a market cap of $41.81 billion, a P/E ratio of 17.38, a PEG ratio of 3.86 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The firm has a 50-day moving average of $69.69 and a 200 day moving average of $68.44. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. On average, sell-side analysts forecast that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is currently 55.68%.

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.