General Mills, Inc. (NYSE:GIS) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 369,130 shares of the company's stock after purchasing an additional 26,821 shares during the quarter. Pictet Asset Management Holding SA owned about 0.07% of General Mills worth $23,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC lifted its stake in shares of General Mills by 1,053.1% in the fourth quarter. New Age Alpha Advisors LLC now owns 2,606 shares of the company's stock worth $166,000 after buying an additional 2,380 shares in the last quarter. Providence Capital Advisors LLC lifted its stake in General Mills by 0.8% in the 4th quarter. Providence Capital Advisors LLC now owns 38,938 shares of the company's stock worth $2,483,000 after purchasing an additional 297 shares in the last quarter. Norges Bank acquired a new position in shares of General Mills during the 4th quarter worth approximately $496,484,000. Loomis Sayles & Co. L P grew its position in shares of General Mills by 83.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,085 shares of the company's stock valued at $133,000 after purchasing an additional 951 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $362,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Trading Down 2.2 %

NYSE GIS traded down $1.33 during trading on Friday, hitting $59.64. The stock had a trading volume of 7,577,878 shares, compared to its average volume of 4,351,286. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $32.87 billion, a PE ratio of 12.97, a PEG ratio of 1.94 and a beta of 0.06. The firm has a 50 day moving average price of $59.97 and a 200 day moving average price of $64.19. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90.

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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, beating analysts' consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.02%. General Mills's payout ratio is 52.75%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GIS shares. Deutsche Bank Aktiengesellschaft dropped their target price on General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a report on Monday, March 17th. Barclays reduced their target price on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. TD Cowen dropped their price target on shares of General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Finally, Mizuho reduced their price target 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. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.69.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

General Mills Company 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.