Intellectus Partners LLC Invests $624,000 in General Mills, Inc. (NYSE:GIS)

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Intellectus Partners LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,329 shares of the company’s stock, valued at approximately $624,000.

Several other institutional investors have also recently added to or reduced their stakes in GIS. BlackRock Inc. increased its stake in shares of General Mills by 15.8% during the 2nd quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after purchasing an additional 6,544,997 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of General Mills by 24,698.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock worth $191,063,000 after purchasing an additional 3,623,246 shares during the last quarter. Iridian Asset Management LLC CT acquired a new position in shares of General Mills during the 2nd quarter worth about $106,946,000. FMR LLC increased its stake in shares of General Mills by 92.9% during the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after purchasing an additional 1,652,275 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of General Mills by 44.6% during the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after purchasing an additional 1,639,900 shares during the last quarter. Institutional investors own 68.66% of the company’s stock.

Shares of GIS stock opened at $54.35 on Friday. The company has a market capitalization of $32.85 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.37 and a current ratio of 0.62. The company has a 50-day simple moving average of $54.22 and a 200 day simple moving average of $52.86. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $56.40.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. General Mills’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. Sell-side analysts forecast that General Mills, Inc. will post 3.37 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, October 9th. General Mills’s payout ratio is 60.87%.

Several research analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 22nd. Piper Jaffray Companies boosted their price objective on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Credit Suisse Group restated a “hold” rating and set a $56.00 price objective on shares of General Mills in a research note on Thursday, September 12th. Finally, ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.64.

In related news, insider Kofi A. Bruce sold 15,582 shares of General Mills stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the sale, the insider now owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

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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