General Mills, Inc. (NYSE:GIS) Holdings Lifted by MGO One Seven LLC

MGO One Seven LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,427 shares of the company’s stock after buying an additional 2,402 shares during the period. MGO One Seven LLC’s holdings in General Mills were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Steigerwald Gordon & Koch Inc. increased its position in General Mills by 2.0% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 195,354 shares of the company’s stock valued at $12,358,000 after acquiring an additional 3,741 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of General Mills by 5.7% during the second quarter. Daiwa Securities Group Inc. now owns 61,535 shares of the company’s stock valued at $3,893,000 after purchasing an additional 3,310 shares during the period. LGT Group Foundation bought a new stake in shares of General Mills during the second quarter valued at about $204,000. Choreo LLC lifted its holdings in General Mills by 135.0% in the second quarter. Choreo LLC now owns 24,122 shares of the company’s stock worth $1,527,000 after purchasing an additional 13,858 shares during the period. Finally, Prudential PLC grew its position in General Mills by 12.4% in the 2nd quarter. Prudential PLC now owns 338,020 shares of the company’s stock valued at $21,383,000 after buying an additional 37,319 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of GIS opened at $73.11 on Thursday. General Mills, Inc. has a one year low of $60.33 and a one year high of $75.90. The company has a 50-day moving average of $68.31 and a two-hundred day moving average of $68.05. 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 cap of $40.81 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 4.25 and a beta of 0.10.

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 net margin of 12.57% and a return on equity of 26.56%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. On average, equities research analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.60 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.28%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is currently 55.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GIS shares. The Goldman Sachs Group assumed coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Evercore ISI decreased their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Citigroup dropped their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Barclays decreased their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, Mizuho dropped their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. One equities research 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 MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus price target of $69.07.

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.