37,897 Shares in General Mills, Inc. (NYSE:GIS) Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 37,897 shares of the company’s stock, valued at approximately $2,397,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GIS. Vanguard Group Inc. raised its holdings in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after buying an additional 8,444,312 shares during the last quarter. Capital Research Global Investors raised its stake in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares during the last quarter. American Century Companies Inc. raised its stake in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of General Mills by 6,140.4% during 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 bought a new stake in shares of General Mills during the first quarter valued at approximately $36,177,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday. Mizuho dropped their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Piper Sandler raised their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Argus reissued a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, TD Cowen raised their target price on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.73.

General Mills Trading Down 0.5 %

Shares of NYSE GIS opened at $74.51 on Friday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $75.90. The stock has a market cap of $41.59 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company’s fifty day moving average is $69.92 and its 200-day moving average is $68.54.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Equities research analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The business 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 an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

About General Mills

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.