Great West Life Assurance Co. Can Has $19.77 Million Stake in General Mills, Inc. (GIS)

Great West Life Assurance Co. Can lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 43.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 460,369 shares of the company’s stock after selling 350,571 shares during the quarter. Great West Life Assurance Co. Can’s holdings in General Mills were worth $19,770,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of General Mills by 1.2% during the second quarter. Northern Trust Corp now owns 8,330,777 shares of the company’s stock valued at $368,719,000 after purchasing an additional 96,628 shares during the period. Bank of New York Mellon Corp lifted its stake in General Mills by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock worth $338,359,000 after acquiring an additional 46,939 shares during the period. Schroder Investment Management Group lifted its stake in General Mills by 5.1% in the second quarter. Schroder Investment Management Group now owns 5,166,277 shares of the company’s stock worth $230,829,000 after acquiring an additional 250,508 shares during the period. Macquarie Group Ltd. lifted its stake in General Mills by 1,063.9% in the second quarter. Macquarie Group Ltd. now owns 4,367,847 shares of the company’s stock worth $193,313,000 after acquiring an additional 3,992,581 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in General Mills by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,111,865 shares of the company’s stock worth $181,992,000 after acquiring an additional 317,122 shares during the period. 68.67% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on GIS. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th. Morgan Stanley dropped their price target on General Mills from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, September 20th. Credit Suisse Group set a $46.00 price target on General Mills and gave the stock a “hold” rating in a research note on Wednesday, September 19th. UBS Group set a $46.00 price target on General Mills and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Finally, Piper Jaffray Companies set a $47.00 price target on General Mills and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. General Mills currently has a consensus rating of “Hold” and an average price target of $50.29.

NYSE GIS opened at $42.31 on Monday. General Mills, Inc. has a one year low of $41.01 and a one year high of $60.69. The stock has a market capitalization of $25.23 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.78 and a beta of 0.60. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93.

General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the company earned $0.71 EPS. General Mills’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a yield of 4.63%. General Mills’s payout ratio is 63.02%.

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General Mills Profile

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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