Moneta Group Investment Advisors LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 145.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,956 shares of the company’s stock after purchasing an additional 9,458 shares during the period. Moneta Group Investment Advisors LLC’s holdings in General Mills were worth $706,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Worldquant Millennium Quantitative Strategies LLC acquired a new position in General Mills in the 2nd quarter valued at approximately $3,307,000. Centaurus Financial Inc. raised its holdings in General Mills by 324.2% in the 2nd quarter. Centaurus Financial Inc. now owns 15,924 shares of the company’s stock valued at $705,000 after acquiring an additional 12,170 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in General Mills by 1.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 174,533 shares of the company’s stock valued at $7,725,000 after acquiring an additional 3,286 shares in the last quarter. Albion Financial Group UT raised its holdings in General Mills by 18.4% in the 2nd quarter. Albion Financial Group UT now owns 31,999 shares of the company’s stock valued at $1,416,000 after acquiring an additional 4,966 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in General Mills by 146.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,701 shares of the company’s stock valued at $164,000 after acquiring an additional 2,201 shares in the last quarter. 70.63% of the stock is owned by institutional investors and hedge funds.
NYSE:GIS opened at $44.39 on Tuesday. 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 1.93, a quick ratio of 0.35 and a current ratio of 0.58. The firm has a market cap of $25.59 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.80 and a beta of 0.77.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, October 9th. General Mills’s dividend payout ratio is 63.02%.
Several equities research analysts have recently weighed in on the company. Bank of America reiterated a “hold” rating and issued a $49.00 price objective on shares of General Mills in a research note on Wednesday, June 27th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of General Mills in a research note on Wednesday, June 27th. Piper Jaffray Companies set a $45.00 price objective on General Mills and gave the company a “hold” rating in a research note on Thursday, July 12th. Finally, Sanford C. Bernstein reiterated a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.29.
In other General Mills news, insider Jacqueline Williams-Roll sold 2,450 shares of the company’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $43.23, for a total transaction of $105,913.50. Following the transaction, the insider now owns 39,074 shares of the company’s stock, valued at approximately $1,689,169.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Peter C. Erickson sold 52,854 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $44.14, for a total value of $2,332,975.56. Following the completion of the transaction, the insider now directly owns 129,575 shares in the company, valued at approximately $5,719,440.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,708 shares of company stock worth $3,147,252. Company insiders own 0.59% of the company’s stock.
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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