Envestnet Asset Management Inc. Acquires 35,680 Shares of General Mills, Inc. (NYSE:GIS)

Envestnet Asset Management Inc. boosted its holdings in General Mills, Inc. (NYSE:GIS) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 589,423 shares of the company’s stock after buying an additional 35,680 shares during the quarter. Envestnet Asset Management Inc.’s holdings in General Mills were worth $37,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in 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 during the period. Capital Research Global Investors grew its position 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 worth $955,118,000 after purchasing an additional 2,488,341 shares during the period. American Century Companies Inc. raised its stake in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Swedbank AB bought a new position in shares of General Mills during the 1st quarter valued at $36,177,000. Finally, Capital World Investors boosted its stake in shares of General Mills by 7.6% in the 4th quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock worth $460,858,000 after buying an additional 501,717 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday. Mizuho reduced their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Bank of America raised their price objective on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Citigroup upped their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Stifel Nicolaus lifted their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.73.

General Mills Price Performance

NYSE:GIS opened at $74.51 on Friday. The business’s 50-day simple moving average is $69.92 and its two-hundred day simple moving average is $68.51. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90. The stock has a market cap of $41.59 billion, a PE ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last issued 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. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts forecast that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.22%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

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.