Thoroughbred Financial Services LLC Purchases 5,534 Shares of General Mills, Inc. (NYSE:GIS)

Thoroughbred Financial Services LLC grew its position in General Mills, Inc. (NYSE:GIS) by 54.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,620 shares of the company’s stock after acquiring an additional 5,534 shares during the period. Thoroughbred Financial Services LLC’s holdings in General Mills were worth $988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. International Assets Investment Management LLC grew its position in shares of General Mills by 7.4% in the 4th quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock valued at $512,000 after acquiring an additional 539 shares during the period. Aveo Capital Partners LLC bought a new position in shares of General Mills in the 4th quarter valued at about $213,000. Envestnet Portfolio Solutions Inc. grew its position in shares of General Mills by 14.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,890 shares of the company’s stock valued at $775,000 after acquiring an additional 1,459 shares during the period. Fiera Capital Corp bought a new position in shares of General Mills in the 4th quarter valued at about $495,000. Finally, Brown Advisory Inc. boosted its holdings in shares of General Mills by 4.2% during the 4th quarter. Brown Advisory Inc. now owns 23,449 shares of the company’s stock worth $1,527,000 after buying an additional 949 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Mizuho reduced their target price 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. Stifel Nicolaus reduced their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, June 27th. JPMorgan Chase & Co. reduced their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, June 27th. One investment 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.07.

General Mills Price Performance

Shares of NYSE:GIS opened at $73.71 on Monday. The firm has a 50 day moving average of $68.73 and a 200-day moving average of $68.20. The stock has a market capitalization of $41.14 billion, a PE ratio of 17.10, a PEG ratio of 3.86 and a beta of 0.10. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. General Mills’s payout ratio is presently 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.