Sigma Planning Corp increased its position in General Mills, Inc. (NYSE:GIS) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,441 shares of the company’s stock after purchasing an additional 3,746 shares during the quarter. Sigma Planning Corp’s holdings in General Mills were worth $4,067,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Bragg Financial Advisors Inc raised its holdings in General Mills by 1.0% in the first quarter. Bragg Financial Advisors Inc now owns 36,123 shares of the company’s stock valued at $1,869,000 after acquiring an additional 345 shares in the last quarter. Nomura Asset Management Co. Ltd. raised 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 worth $8,347,000 after purchasing an additional 59,204 shares during the period. Private Ocean LLC raised 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 worth $73,000 after purchasing an additional 1,200 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of General Mills during the first quarter worth $207,000. Finally, Victory Capital Management Inc. raised its holdings in shares of General Mills by 3.2% during the first quarter. Victory Capital Management Inc. now owns 303,886 shares of the company’s stock worth $15,726,000 after purchasing an additional 9,520 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.
Shares of GIS stock traded up $0.64 during trading hours on Friday, reaching $54.97. The stock had a trading volume of 141,368 shares, compared to its average volume of 3,270,371. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $54.74. The firm has a 50-day simple moving average of $53.45 and a 200-day simple moving average of $50.69. The firm has a market capitalization of $32.82 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.49 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.57%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
A number of brokerages have weighed in on GIS. Evercore ISI began coverage on shares of General Mills in a report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price on the stock. UBS Group increased their target price on shares of General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Piper Jaffray Companies increased their target price on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Morgan Stanley increased their target price on shares of General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, June 27th. Finally, Goldman Sachs Group cut shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price on the stock. in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.66.
General Mills 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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