Bridges Investment Management Inc. Boosts Stock Holdings in General Mills, Inc. (NYSE:GIS)

Bridges Investment Management Inc. raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 31.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,493 shares of the company’s stock after buying an additional 2,252 shares during the period. Bridges Investment Management Inc.’s holdings in General Mills were worth $601,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of General Mills by 16.3% during 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 during the period. Capital Research Global Investors boosted its holdings in shares of General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the period. American Century Companies Inc. boosted its holdings in shares of General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the period. Wulff Hansen & CO. boosted its holdings 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 during the period. Finally, Swedbank AB purchased a new stake in shares of General Mills during the first quarter worth about $36,177,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIS has been the subject of a number of analyst reports. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays raised their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday. Mizuho lowered their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company raised their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $72.73.

General Mills Price Performance

Shares of NYSE GIS opened at $74.51 on Friday. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $75.90. The company has a 50 day simple moving average of $69.92 and a two-hundred day simple moving average of $68.54. The company has a market capitalization 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 debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills (NYSE:GIS) last announced its earnings results 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. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. This is an increase from General Mills’s previous quarterly dividend of $0.59. 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.