Summit Trail Advisors LLC Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Summit Trail Advisors LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 47.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,214 shares of the company’s stock after purchasing an additional 2,312 shares during the period. Summit Trail Advisors LLC’s holdings in General Mills were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew 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 buying an additional 8,444,312 shares in the last quarter. Capital Research Global Investors grew its stake in General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after acquiring an additional 2,488,341 shares in the last quarter. American Century Companies Inc. raised its holdings in General Mills by 100.4% in the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. lifted its stake in General Mills by 6,140.4% in the 2nd 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 1st quarter worth approximately $36,177,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.4 %

NYSE:GIS opened at $74.19 on Tuesday. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90. 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 stock’s fifty day moving average is $70.14 and its two-hundred day moving average is $68.63. The stock has a market capitalization of $41.41 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS 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 return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. Research analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 55.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GIS shares. The Goldman Sachs Group started coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Barclays boosted their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday. TD Cowen raised their price objective on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Argus reiterated 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 assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.73.

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.