SG Americas Securities LLC Grows Holdings in General Mills, Inc. $GIS

SG Americas Securities LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 787.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,048 shares of the company’s stock after buying an additional 480,098 shares during the quarter. SG Americas Securities LLC owned 0.10% of General Mills worth $25,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of General Mills in the second quarter worth about $417,508,000. Worldquant Millennium Advisors LLC purchased a new position in General Mills in the second quarter valued at about $84,862,000. Two Sigma Investments LP grew its stake in General Mills by 82.8% during the 3rd quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock valued at $172,226,000 after purchasing an additional 1,546,993 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in General Mills by 22.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after purchasing an additional 1,383,913 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in General Mills by 15.9% during the 3rd quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock worth $494,548,000 after purchasing an additional 1,368,041 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.6%

Shares of NYSE:GIS opened at $35.97 on Friday. The company’s fifty day moving average is $43.72 and its two-hundred day moving average is $46.28. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a 1-year low of $35.63 and a 1-year high of $62.61. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of 8.79 and a beta of -0.05.

General Mills (NYSE:GIS) last posted its quarterly earnings results 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 business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, April 10th. General Mills’s payout ratio is presently 59.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GIS shares. Piper Sandler cut their target price on General Mills from $53.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Stifel Nicolaus decreased their price target on shares of General Mills from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. TD Cowen cut their price target on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Wells Fargo & Company downgraded shares of General Mills from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $45.00 to $35.00 in a research note on Thursday, March 12th. Finally, Bank of America lowered shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $44.61.

General Mills Profile

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.