General Mills, Inc. $GIS Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in General Mills, Inc. (NYSE:GIS) by 2,526.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 495,412 shares of the company’s stock after purchasing an additional 476,552 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of General Mills worth $25,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of General Mills by 9.7% during the first quarter. Envestnet Asset Management Inc. now owns 703,251 shares of the company’s stock valued at $42,047,000 after acquiring an additional 62,206 shares during the period. Allworth Financial LP boosted its stake in General Mills by 13.3% during the 1st quarter. Allworth Financial LP now owns 21,934 shares of the company’s stock valued at $1,237,000 after purchasing an additional 2,574 shares in the last quarter. Xponance Inc. increased its position in shares of General Mills by 1.9% during the 1st quarter. Xponance Inc. now owns 77,786 shares of the company’s stock valued at $4,651,000 after purchasing an additional 1,417 shares during the period. Arizona State Retirement System increased its position in shares of General Mills by 1.1% during the 1st quarter. Arizona State Retirement System now owns 159,368 shares of the company’s stock valued at $9,529,000 after purchasing an additional 1,686 shares during the period. Finally, High Note Wealth LLC raised its stake in shares of General Mills by 7.7% in the 1st quarter. High Note Wealth LLC now owns 5,119 shares of the company’s stock worth $306,000 after buying an additional 366 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $46.89 on Monday. The stock has a market cap of $25.01 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $49.02 and a 200-day simple moving average of $51.12.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. General Mills’s payout ratio is presently 46.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIS. UBS Group lowered their target price on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Bernstein Bank reduced their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, September 18th. Finally, Morgan Stanley decreased their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.82.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.