Riverhead Capital Management LLC Trims Stake in General Mills, Inc. (GIS)

Riverhead Capital Management LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 42.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,535 shares of the company’s stock after selling 51,330 shares during the period. Riverhead Capital Management LLC’s holdings in General Mills were worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of GIS. Acadian Asset Management LLC bought a new position in shares of General Mills during the 2nd quarter valued at about $115,000. Victory Capital Management Inc. lifted its stake in General Mills by 21.2% during the second quarter. Victory Capital Management Inc. now owns 290,038 shares of the company’s stock valued at $12,837,000 after buying an additional 50,762 shares in the last quarter. Alps Advisors Inc. lifted its stake in General Mills by 16.0% during the second quarter. Alps Advisors Inc. now owns 1,096,986 shares of the company’s stock valued at $48,553,000 after buying an additional 151,244 shares in the last quarter. Barings LLC lifted its stake in General Mills by 38.4% during the second quarter. Barings LLC now owns 14,282 shares of the company’s stock valued at $632,000 after buying an additional 3,966 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in General Mills by 23.8% during the second quarter. State of Wisconsin Investment Board now owns 647,427 shares of the company’s stock valued at $28,655,000 after buying an additional 124,570 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.

NYSE GIS opened at $38.48 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $23.69 billion, a PE ratio of 12.37, a P/E/G ratio of 1.67 and a beta of 0.60. General Mills, Inc. has a 52-week low of $38.17 and a 52-week high of $60.69.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.12 billion. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Wednesday, January 9th. General Mills’s dividend payout ratio (DPR) is 63.02%.

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 price objective on shares of General Mills in a research note on Monday, September 17th. Morgan Stanley assumed coverage on shares of General Mills in a research note on Monday, September 17th. They set an “equal weight” rating and a $48.00 price objective for the company. Credit Suisse Group set a $46.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, September 13th. ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Two investment 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’s stock. The stock has a consensus rating of “Hold” and an average target price of $50.06.

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About General Mills

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.

Further Reading: Institutional Investors

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

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