Qsemble Capital Management LP Invests $1.62 Million in General Mills, Inc. (NYSE:GIS)

Qsemble Capital Management LP acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 21,868 shares of the company’s stock, valued at approximately $1,615,000.

Several other hedge funds have also made changes to their positions in the stock. Mesirow Financial Investment Management Inc. boosted its holdings in shares of General Mills by 1.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after acquiring an additional 148 shares during the period. Deseret Mutual Benefit Administrators grew its position in General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after purchasing an additional 151 shares during the last quarter. Secure Asset Management LLC increased its stake in shares of General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares during the period. LCM Capital Management Inc raised its holdings in shares of General Mills by 1.9% during the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after buying an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of General Mills by 1.1% during the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after buying an additional 165 shares during the period. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. TD Cowen lifted their price objective on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Barclays increased their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Citigroup boosted their price target on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Stifel Nicolaus increased their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $72.67.

General Mills Price Performance

GIS stock opened at $65.53 on Tuesday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The firm has a 50-day moving average of $69.46 and a two-hundred day moving average of $68.59. The firm has a market capitalization of $36.38 billion, a PE ratio of 15.60, a P/E/G ratio of 3.38 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Insiders Place Their Bets

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by company insiders.

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.