Pensionfund Sabic Invests $930,000 in General Mills, Inc. $GIS

Pensionfund Sabic acquired a new position in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $930,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in General Mills in the second quarter worth about $417,508,000. Worldquant Millennium Advisors LLC purchased a new stake in shares of General Mills during the 2nd quarter valued at about $84,862,000. Two Sigma Investments LP lifted its stake in shares of General Mills by 82.8% in the 3rd quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock worth $172,226,000 after purchasing an additional 1,546,993 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of General Mills by 22.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock worth $384,625,000 after purchasing an additional 1,383,913 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of General Mills by 15.9% in the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock worth $494,548,000 after buying an additional 1,368,041 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GIS. Mizuho cut their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Weiss Ratings cut shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 13th. TD Cowen cut their price objective on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 target price on shares of General Mills in a report on Thursday, December 18th. Finally, Morgan Stanley lowered their target price on General Mills from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $44.61.

General Mills Stock Performance

GIS opened at $36.14 on Thursday. The company has a 50 day simple moving average of $43.92 and a two-hundred day simple moving average of $46.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The firm has a market cap of $19.29 billion, a P/E ratio of 8.84 and a beta of -0.05. General Mills, Inc. has a 1-year low of $35.63 and a 1-year high of $62.61.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. General Mills’s dividend payout ratio (DPR) is currently 59.66%.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.