KLP Kapitalforvaltning AS Purchases New Holdings in General Mills, Inc. (NYSE:GIS)

KLP Kapitalforvaltning AS purchased a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 588,318 shares of the company's stock, valued at approximately $37,517,000. KLP Kapitalforvaltning AS owned about 0.11% of General Mills as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. RFG Advisory LLC grew its stake in General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company's stock worth $425,000 after purchasing an additional 172 shares in the last quarter. TCW Group Inc. grew its position in shares of General Mills by 0.8% during the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company's stock worth $1,471,000 after buying an additional 194 shares in the last quarter. Quadrant Private Wealth Management LLC increased its stake in shares of General Mills by 3.7% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company's stock valued at $356,000 after buying an additional 197 shares during the period. Howard Capital Management Inc. increased its stake in shares of General Mills by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company's stock valued at $250,000 after buying an additional 198 shares during the period. Finally, LRI Investments LLC raised its holdings in shares of General Mills by 5.9% in the third quarter. LRI Investments LLC now owns 3,593 shares of the company's stock valued at $265,000 after acquiring an additional 200 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

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General Mills Stock Performance

Shares of NYSE:GIS traded down $0.12 during trading on Tuesday, hitting $58.05. 1,996,320 shares of the stock traded hands, compared to its average volume of 4,114,724. The company has a fifty day moving average price of $59.97 and a two-hundred day moving average price of $65.06. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The company has a market cap of $32.00 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company's revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills's payout ratio is currently 52.75%.

Analyst Ratings Changes

Several research analysts have issued reports on GIS shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Morgan Stanley started coverage on shares of General Mills in a research report on Monday. They set an "underweight" rating and a $53.00 price target for the company. Mizuho cut their price objective on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Jefferies Financial Group increased their target price on shares of General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their price objective on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $65.69.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

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.