Savoir Faire Capital Management L.P. Has $7.51 Million Position in General Mills, Inc. (NYSE:GIS)

Savoir Faire Capital Management L.P. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,733 shares of the company’s stock after purchasing an additional 676 shares during the period. General Mills accounts for approximately 2.9% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 10th largest position. Savoir Faire Capital Management L.P.’s holdings in General Mills were worth $7,511,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Arkadios Wealth Advisors raised its holdings in General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC purchased a new stake in General Mills in the fourth quarter worth about $1,171,000. State Board of Administration of Florida Retirement System boosted its position in General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after acquiring an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its position in shares of General Mills by 164.1% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock worth $1,307,000 after acquiring an additional 11,298 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 1.2 %

GIS stock opened at $74.63 on Tuesday. The stock has a market capitalization of $41.65 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.86 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90. The business has a fifty day moving average price of $68.97 and a 200-day moving average price of $68.28.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 EPS. Equities analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.22%. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GIS. Bank of America increased their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, June 27th. Citigroup boosted their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday. Mizuho decreased their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. dropped their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.60.

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.