Tiverton Asset Management LLC acquired a new position in General Mills (NYSE:GIS) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,547 shares of the company’s stock, valued at approximately $205,000.
Several other institutional investors also recently made changes to their positions in the company. Pittenger & Anderson Inc. raised its position in shares of General Mills by 10.8% during the first quarter. Pittenger & Anderson Inc. now owns 32,070 shares of the company’s stock worth $1,445,000 after purchasing an additional 3,135 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of General Mills by 24.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 956,645 shares of the company’s stock worth $43,107,000 after purchasing an additional 189,247 shares during the period. Van Hulzen Asset Management LLC raised its position in shares of General Mills by 277.6% during the first quarter. Van Hulzen Asset Management LLC now owns 12,869 shares of the company’s stock worth $580,000 after purchasing an additional 9,461 shares during the period. ING Groep NV acquired a new stake in shares of General Mills during the first quarter worth $4,044,000. Finally, Engineers Gate Manager LP raised its position in shares of General Mills by 189.2% during the first quarter. Engineers Gate Manager LP now owns 163,472 shares of the company’s stock worth $7,366,000 after purchasing an additional 106,948 shares during the period. 73.99% of the stock is currently owned by institutional investors.
Shares of General Mills opened at $41.82 on Friday, MarketBeat reports. General Mills has a 1-year low of $41.01 and a 1-year high of $60.69. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.34. The firm has a market cap of $24.36 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76.
General Mills declared that its Board of Directors has approved a share repurchase plan on Friday, February 23rd that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a yield of 4.69%. General Mills’s dividend payout ratio (DPR) is currently 63.64%.
GIS has been the topic of a number of recent analyst reports. JPMorgan Chase cut their target price on General Mills to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, March 22nd. TheStreet lowered General Mills from a “b-” rating to a “c+” rating in a research report on Monday, April 2nd. Piper Jaffray reaffirmed a “hold” rating and set a $49.00 target price on shares of General Mills in a research report on Thursday, March 22nd. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Finally, Morgan Stanley cut their target price on General Mills from $58.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and a consensus target price of $53.43.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. 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, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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