Fulcrum Asset Management LLP Acquires 41,282 Shares of General Mills, Inc. $GIS

Fulcrum Asset Management LLP increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9,805.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 41,703 shares of the company’s stock after acquiring an additional 41,282 shares during the quarter. Fulcrum Asset Management LLP’s holdings in General Mills were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of General Mills by 26.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 40,231 shares of the company’s stock worth $1,274,000 after buying an additional 8,539 shares during the last quarter. M Holdings Securities Inc. acquired a new stake in General Mills during the third quarter worth about $262,000. Uhlmann Price Securities LLC raised its position in General Mills by 15.6% during the third quarter. Uhlmann Price Securities LLC now owns 14,272 shares of the company’s stock valued at $459,000 after acquiring an additional 1,927 shares in the last quarter. Ethic Inc. boosted its position in General Mills by 4.5% in the 3rd quarter. Ethic Inc. now owns 267,939 shares of the company’s stock worth $8,617,000 after purchasing an additional 11,612 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in General Mills by 5.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 23,824 shares of the company’s stock worth $766,000 after purchasing an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Recent General Mills Headlines

These are some of the GIS headlines that stood out recently:

• Positive Sentiment: The new operating model is presented as a way to improve efficiency and support profitable growth over time. That offers a possible strategic upside, but it is a longer-term plan rather than an immediate earnings improvement. Can General Mills’ New Operating Model Drive Profitable Growth?
• Neutral Sentiment: Commentary has described GIS as a potential bargain after a substantial decline in its shares. This could attract value-oriented buyers, but the valuation argument alone does not resolve concerns about the company’s growth outlook. General Mills (GIS) Stock Could Be A Bargain After A 38% Fall
• Neutral Sentiment: The restructuring news is the clearest recent company-specific development in these reports. The articles do not describe an immediate financial impact, so investors may wait for evidence that the new structure improves results. General Mills to reorganize operating model into three segments

General Mills Trading Down 1.3%

Shares of General Mills stock opened at $34.16 on Thursday. The firm has a market capitalization of $18.26 billion and a PE ratio of 10.06. General Mills, Inc. has a twelve month low of $31.17 and a twelve month high of $49.59. The firm’s 50-day moving average price is $34.51 and its 200 day moving average price is $37.23. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the previous year, the business earned $0.86 EPS. General Mills’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts predict that General Mills, Inc. will post 3.08 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Tuesday, October 13th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Tuesday, October 13th. General Mills’s payout ratio is presently -146.99%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Jefferies Financial Group set a $35.00 target price on shares of General Mills in a research note on Thursday, September 10th. Bank of America restated a “neutral” rating on shares of General Mills in a research report on Thursday, September 24th. UBS Group reaffirmed a “sell” rating on shares of General Mills in a report on Wednesday, September 16th. Piper Sandler reiterated an “overweight” rating on shares of General Mills in a research report on Thursday, September 24th. Finally, Evercore set a $38.00 price objective on shares of General Mills in a research report on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $36.59.

General Mills Profile

General Mills, Inc. is a food company that develops, manufactures and markets branded consumer foods. Its products include breakfast cereals, snack bars, baking mixes and refrigerated dough, along with meals and pet food. Its brands include Cheerios, Nature Valley, Betty Crocker, Pillsbury and Blue Buffalo. The company traces its history to the Minneapolis Milling Company, established in 1866. The General Mills name was adopted in 1928 by the Washburn Crosby Company, a predecessor of today’s business.