Stonebridge Capital Management Inc. Has $213,000 Stock Position in General Mills, Inc. (NYSE:GIS)

Stonebridge Capital Management Inc. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,050 shares of the company’s stock after selling 200 shares during the quarter. Stonebridge Capital Management Inc.’s holdings in General Mills were worth $213,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GIS. Norges Bank acquired a new stake in shares of General Mills during the 4th quarter worth $377,205,000. Massachusetts Financial Services Co. MA lifted its position in shares of General Mills by 106.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after buying an additional 1,778,345 shares during the last quarter. American Century Companies Inc. lifted its position in shares of General Mills by 257.7% during the 3rd quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after buying an additional 765,070 shares during the last quarter. LSV Asset Management lifted its position in shares of General Mills by 165.6% during the 4th quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock worth $68,381,000 after buying an additional 654,550 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of General Mills by 6,893.6% during the 4th quarter. International Assets Investment Management LLC now owns 512,139 shares of the company’s stock worth $33,361,000 after buying an additional 504,816 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Trading Up 0.2 %

Shares of GIS stock traded up $0.12 on Thursday, hitting $64.29. The company had a trading volume of 1,448,261 shares, compared to its average volume of 4,112,479. The firm has a market cap of $36.51 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.13 and a beta of 0.12. The stock’s 50-day moving average is $68.85 and its two-hundred day moving average is $66.80. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $78.88.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.73%. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is currently 54.13%.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GIS shares. Morgan Stanley upped their price objective on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus dropped their price objective on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday. HSBC upped their price objective on General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and increased their target price for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.89.

About General Mills

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.