Adviser Investments LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 158.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,608 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Adviser Investments LLC’s holdings in General Mills were worth $115,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Landmark Bank acquired a new position in shares of General Mills during the second quarter valued at approximately $280,000. Sigma Planning Corp increased its stake in shares of General Mills by 86.7% during the second quarter. Sigma Planning Corp now owns 58,081 shares of the company’s stock valued at $2,571,000 after acquiring an additional 26,969 shares during the period. Biondo Investment Advisors LLC increased its stake in shares of General Mills by 7.0% during the second quarter. Biondo Investment Advisors LLC now owns 72,050 shares of the company’s stock valued at $3,189,000 after acquiring an additional 4,723 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of General Mills during the second quarter valued at approximately $532,000. Finally, Northern Capital Management LLC acquired a new position in shares of General Mills during the second quarter valued at approximately $1,159,000. 70.57% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on GIS shares. Goldman Sachs Group upgraded shares of General Mills from a “sell” rating to a “neutral” rating and set a $47.00 price objective on the stock in a research note on Wednesday, May 16th. Susquehanna Bancshares set a $50.00 price objective on shares of General Mills and gave the company a “buy” rating in a research note on Monday, May 21st. Piper Jaffray Companies set a $45.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Tuesday, June 5th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of General Mills in a research note on Wednesday, June 27th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. General Mills has an average rating of “Hold” and an average price target of $50.71.
NYSE GIS traded up $0.37 on Friday, hitting $46.01. 3,628,800 shares of the stock were exchanged, compared to its average volume of 5,202,030. General Mills, Inc. has a 52-week low of $41.01 and a 52-week high of $60.69. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.34 and a current ratio of 0.56. The stock has a market cap of $27.05 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.75 and a beta of 0.77.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. General Mills had a net margin of 13.54% and a return on equity of 35.14%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company posted $0.73 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. research analysts forecast that General Mills, Inc. will post 3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.26%. The ex-dividend date was Monday, July 9th. General Mills’s payout ratio is 63.02%.
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.
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