General Mills, Inc. (NYSE:GIS) Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in shares of General Mills, Inc. (NYSE:GIS) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 408,400 shares of the company’s stock after acquiring an additional 31,600 shares during the period. Alberta Investment Management Corp’s holdings in General Mills were worth $22,511,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GIS. BlackRock Inc. increased its stake in General Mills by 15.8% during the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after acquiring an additional 6,544,997 shares during the last quarter. Nuveen Asset Management LLC increased its stake in General Mills by 24,698.3% during the second quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock worth $191,063,000 after acquiring an additional 3,623,246 shares during the last quarter. Iridian Asset Management LLC CT acquired a new stake in General Mills during the second quarter worth about $106,946,000. Renaissance Technologies LLC increased its stake in General Mills by 44.6% during the second quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after acquiring an additional 1,639,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock worth $2,477,631,000 after acquiring an additional 643,774 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

GIS has been the subject of several research analyst reports. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, August 22nd. Piper Jaffray Companies increased their target price on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Royal Bank of Canada began coverage on General Mills in a research note on Thursday, October 17th. They issued a “sector perform” rating and a $57.00 target price for the company. Edward Jones upgraded General Mills from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Finally, ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.82.

In related news, insider Jonathon Nudi sold 18,951 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $54.52, for a total value of $1,033,208.52. Following the completion of the transaction, the insider now owns 81,656 shares of the company’s stock, valued at $4,451,885.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kofi A. Bruce sold 15,582 shares of the 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 transaction, the insider now directly owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

GIS stock opened at $51.11 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.37 and a current ratio of 0.62. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $56.40. The firm has a market cap of $30.93 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. The stock has a 50-day simple moving average of $53.99 and a 200-day simple moving average of $52.96.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a return on equity of 27.38% and a net margin of 11.21%. General Mills’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts predict that General Mills, Inc. will post 3.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 3.83%. The ex-dividend date of this dividend is Wednesday, October 9th. General Mills’s dividend payout ratio is currently 60.87%.

General Mills Company 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.

See Also: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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