Putnam FL Investment Management Co. Increases Position in General Mills, Inc. (NYSE:GIS)

Putnam FL Investment Management Co. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,328 shares of the company’s stock after buying an additional 330 shares during the quarter. Putnam FL Investment Management Co.’s holdings in General Mills were worth $385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bragg Financial Advisors Inc grew its holdings in shares of General Mills by 1.0% during the first quarter. Bragg Financial Advisors Inc now owns 36,123 shares of the company’s stock valued at $1,869,000 after buying an additional 345 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of General Mills by 58.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 161,292 shares of the company’s stock valued at $8,347,000 after buying an additional 59,204 shares during the last quarter. Private Ocean LLC grew its holdings in shares of General Mills by 585.4% during the first quarter. Private Ocean LLC now owns 1,405 shares of the company’s stock valued at $73,000 after buying an additional 1,200 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of General Mills by 27.4% during the first quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock valued at $5,719,000 after buying an additional 23,762 shares during the last quarter. Finally, Wellington Shields Capital Management LLC purchased a new stake in shares of General Mills during the first quarter valued at $207,000. 69.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on GIS shares. Evercore ISI started coverage on shares of General Mills in a report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 price objective on the stock. Goldman Sachs Group lowered shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price objective on the stock. in a report on Tuesday, May 28th. UBS Group boosted their price objective on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Finally, Bank of America reissued a “neutral” rating and set a $49.00 price objective on shares of General Mills in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.66.

Shares of General Mills stock traded down $0.45 during trading hours on Wednesday, reaching $52.06. The stock had a trading volume of 151,791 shares, compared to its average volume of 3,667,534. The company’s 50 day simple moving average is $53.35. The stock has a market cap of $31.37 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.28 and a beta of 0.77. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $54.74. The company has a quick ratio of 0.37, a current ratio of 0.59 and a debt-to-equity ratio of 1.58.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, analysts forecast that General Mills, Inc. will post 3.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.76%. General Mills’s dividend payout ratio (DPR) 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.

Featured Story: What is Compound Interest?

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

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

Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.