OVERSEA CHINESE BANKING Corp Ltd Boosts Stake in General Mills, Inc. (NYSE:GIS)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 342,441 shares of the company's stock after buying an additional 8,565 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of General Mills worth $21,837,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Endeavor Private Wealth Inc. purchased a new position in shares of General Mills in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of General Mills in the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Mills in the fourth quarter worth about $31,000. Bank of Jackson Hole Trust purchased a new position in General Mills during the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in General Mills during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Stock Up 0.8 %

Shares of GIS traded up $0.47 during mid-day trading on Friday, reaching $58.78. The company had a trading volume of 48,560,704 shares, compared to its average volume of 4,110,811. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a 50-day moving average price of $60.00 and a 200 day moving average price of $65.23. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

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General Mills (NYSE:GIS - Get Free Report) last announced 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 company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $1.17 EPS. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts forecast 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 Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. General Mills's dividend payout ratio is presently 52.75%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GIS shares. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price target on shares of General Mills in a report on Monday, March 17th. TD Cowen reduced their price target on General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, December 19th. Barclays reduced their price target on General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. Citigroup reduced their price target on General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. reduced their price target on General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, General Mills currently has a consensus rating of "Hold" and a consensus price target of $66.53.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.26% of the company's stock.

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 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.