General Mills, Inc. (NYSE:GIS) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,687 shares of the company’s stock after purchasing an additional 3,257 shares during the period. Ieq Capital LLC’s holdings in General Mills were worth $1,815,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. North Star Investment Management Corp. raised its position in shares of General Mills by 0.8% during the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after purchasing an additional 145 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after acquiring an additional 151 shares during the last quarter. Park Place Capital Corp raised its holdings in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after acquiring an additional 156 shares during the last quarter. Secure Asset Management LLC raised its holdings in General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the last quarter. Finally, LCM Capital Management Inc raised its holdings in General Mills by 1.9% in the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

NYSE:GIS opened at $74.51 on Monday. 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 $69.92 and a two-hundred day moving average of $68.57. The stock has a market cap of $41.59 billion, a P/E ratio of 17.29, a PEG ratio of 3.86 and a beta of 0.10. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last posted 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 company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. On average, research analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.60 dividend. 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 3.22%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is presently 55.68%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GIS shares. Stifel Nicolaus boosted their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler boosted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Barclays boosted their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday. Mizuho dropped their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $72.73.

General Mills Company 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.