Massachusetts Financial Services Co. MA Has $225.21 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Massachusetts Financial Services Co. MA grew its position in shares of General Mills, Inc. (NYSE:GIS) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,560,066 shares of the company’s stock after acquiring an additional 76,074 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in General Mills were worth $225,210,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC boosted its position in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after acquiring an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. Fortis Group Advisors LLC boosted its position in General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after acquiring an additional 229 shares during the last quarter. RFP Financial Group LLC boosted its holdings in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its holdings in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.2 %

GIS stock opened at $74.50 on Wednesday. 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 stock has a market capitalization of $41.58 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 3.86 and a beta of 0.10. The business’s fifty day moving average price is $69.21 and its two-hundred day moving average price is $68.35. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 EPS. On average, equities analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current 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 dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.22%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Analysts Set New Price Targets

GIS has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Barclays cut their price objective on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, June 27th. Finally, Bank of America increased their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average target price of $70.60.

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.