Meeder Asset Management Inc. Boosts Stock Holdings in General Mills, Inc. (NYSE:GIS)

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Meeder Asset Management Inc. grew its stake in General Mills, Inc. (NYSE:GIS) by 4,906.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502 shares of the company’s stock after purchasing an additional 1,472 shares during the period. Meeder Asset Management Inc.’s holdings in General Mills were worth $79,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Employers Holdings Inc. acquired a new position in General Mills in the second quarter valued at approximately $32,000. Certified Advisory Corp lifted its holdings in General Mills by 100.9% in the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in General Mills by 377.4% in the second quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock valued at $33,000 after acquiring an additional 502 shares during the last quarter. Smart Money Group LLC acquired a new position in General Mills in the second quarter valued at approximately $33,000. Finally, CX Institutional lifted its holdings in General Mills by 74.2% in the second quarter. CX Institutional now owns 655 shares of the company’s stock valued at $34,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

General Mills stock opened at $52.23 on Wednesday. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $55.43. The stock’s fifty day simple moving average is $53.63 and its 200-day simple moving average is $51.16. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $31.33 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.27 and a beta of 0.77.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that General Mills, Inc. will post 3.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio is currently 60.87%.

GIS has been the topic of a number of research reports. Piper Jaffray Companies upped their price target on General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. UBS Group upped their price target on General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Guggenheim upped their price target on General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Edward Jones upgraded General Mills from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI initiated coverage on General Mills in a research note on Tuesday, June 11th. They set an “in-line” rating and a $56.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.98.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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