Contravisory Investment Management Inc. Purchases Shares of 75,056 General Mills, Inc. (NYSE:GIS)

Contravisory Investment Management Inc. purchased a new stake in General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 75,056 shares of the company’s stock, valued at approximately $4,137,000.

A number of other hedge funds have also modified their holdings of the business. Nomura Asset Management Co. Ltd. increased its stake in shares of General Mills by 1.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 163,313 shares of the company’s stock worth $8,578,000 after purchasing an additional 2,021 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in shares of General Mills by 2.3% during the 2nd quarter. Chesley Taft & Associates LLC now owns 26,905 shares of the company’s stock worth $1,413,000 after purchasing an additional 600 shares during the last quarter. BBT Capital Management LLC acquired a new position in shares of General Mills during the 2nd quarter worth about $266,000. Roanoke Asset Management Corp NY acquired a new position in shares of General Mills during the 2nd quarter worth about $255,000. Finally, Homrich & Berg acquired a new position in shares of General Mills during the 2nd quarter worth about $211,000. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Shares of GIS stock traded up $0.25 during midday trading on Monday, hitting $54.55. 56,222 shares of the company were exchanged, compared to its average volume of 3,770,587. The firm has a market capitalization of $32.26 billion, a P/E ratio of 16.93, a PEG ratio of 2.26 and a beta of 0.73. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.37 and a current ratio of 0.62. The firm’s 50 day moving average price is $54.28 and its two-hundred day moving average price is $52.66. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $56.40.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. General Mills’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. Analysts expect that General Mills, Inc. will post 3.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, October 9th. General Mills’s dividend payout ratio is currently 60.87%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 22nd. Piper Jaffray Companies boosted their price objective on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Credit Suisse Group restated a “hold” rating and set a $56.00 price objective on shares of General Mills in a research note on Thursday, September 12th. Morgan Stanley boosted their price objective on shares of General Mills from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Finally, ValuEngine lowered shares of General Mills from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.64.

In other General Mills news, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the sale, the insider now owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

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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