AMP Capital Investors Ltd Sells 100,824 Shares of General Mills, Inc. (GIS)

AMP Capital Investors Ltd reduced its holdings in General Mills, Inc. (NYSE:GIS) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 168,319 shares of the company’s stock after selling 100,824 shares during the period. AMP Capital Investors Ltd’s holdings in General Mills were worth $7,242,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in General Mills in the 2nd quarter valued at $115,000. CSat Investment Advisory L.P. bought a new position in shares of General Mills in the 2nd quarter valued at about $118,000. Kiley Juergens Wealth Management LLC grew its position in shares of General Mills by 108.2% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock valued at $129,000 after acquiring an additional 1,568 shares during the period. ELM Advisors LLC bought a new position in shares of General Mills in the 3rd quarter valued at about $137,000. Finally, Selective Wealth Management bought a new position in shares of General Mills in the 3rd quarter valued at about $139,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.

GIS has been the subject of a number of analyst reports. ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price objective on shares of General Mills in a research report on Monday, September 17th. Credit Suisse Group set a $46.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Piper Jaffray Companies set a $47.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Finally, Bank of America decreased their price objective on shares of General Mills from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. General Mills has an average rating of “Hold” and an average price target of $50.06.

Shares of GIS stock opened at $38.48 on Friday. The stock has a market cap of $24.01 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.69 and a beta of 0.60. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93. General Mills, Inc. has a 52 week low of $38.17 and a 52 week high of $60.69.

General Mills (NYSE:GIS) last announced its earnings results on Tuesday, September 18th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a net margin of 13.19% and a return on equity of 31.84%. General Mills’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Wednesday, January 9th. General Mills’s payout ratio is 63.02%.

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General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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