Swedbank AB Raises Stock Holdings in General Mills, Inc. (NYSE:GIS)

Swedbank AB grew its stake in General Mills, Inc. (NYSE:GIS) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,580 shares of the company’s stock after acquiring an additional 26,453 shares during the quarter. Swedbank AB’s holdings in General Mills were worth $40,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GIS. Vanguard Group Inc. lifted its position in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares in the last quarter. Capital Research Global Investors lifted its position in shares of General Mills by 22.3% in the first 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. lifted its position in shares of General Mills by 100.4% in the second 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 in the last quarter. Wulff Hansen & CO. lifted its position in shares of General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after acquiring an additional 930,271 shares in the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in General Mills during the first quarter worth about $29,199,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

General Mills Price Performance

GIS stock opened at $71.00 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a market cap of $39.63 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The stock has a 50-day simple moving average of $72.31 and a 200-day simple moving average of $69.21.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.38%. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Stifel Nicolaus increased their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday. Mizuho reduced their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $73.00.

General Mills Company 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.