Promethos Capital LLC Has $2.49 Million Stake in General Mills, Inc. (NYSE:GIS)

Promethos Capital LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 129.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,350 shares of the company’s stock after purchasing an additional 22,210 shares during the quarter. Promethos Capital LLC’s holdings in General Mills were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 valued at $4,219,113,000 after purchasing an additional 8,444,312 shares in the last quarter. Capital Research Global Investors increased its stake in General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after buying an additional 2,488,341 shares during the last quarter. American Century Companies Inc. lifted its position in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of 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 buying an additional 930,271 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of General Mills in the first quarter valued at approximately $36,177,000. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $74.90 on Friday. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The company has a market cap of $41.81 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. The stock has a 50-day moving average price of $69.69 and a 200-day moving average price of $68.44.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. As a group, equities analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently declared 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 an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.20%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. The Goldman Sachs Group initiated coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Piper Sandler lifted their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays dropped their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $71.93.

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.