General Mills, Inc. (NYSE:GIS) Shares Bought by Holderness Investments Co.

Holderness Investments Co. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,047 shares of the company’s stock after acquiring an additional 750 shares during the period. Holderness Investments Co.’s holdings in General Mills were worth $528,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Spectrum Management Group Inc. boosted its holdings in shares of General Mills by 724.4% in the 2nd quarter. Spectrum Management Group Inc. now owns 3,380 shares of the company’s stock valued at $178,000 after buying an additional 2,970 shares during the period. Penobscot Investment Management Company Inc. boosted its holdings in shares of General Mills by 79.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 21,461 shares of the company’s stock valued at $861,000 after buying an additional 9,520 shares during the period. Employers Holdings Inc. acquired a new position in shares of General Mills in the 2nd quarter valued at about $32,000. Landmark Bank boosted its holdings in shares of General Mills by 3.7% in the 2nd quarter. Landmark Bank now owns 6,865 shares of the company’s stock valued at $361,000 after buying an additional 242 shares during the period. Finally, SPC Financial Inc. boosted its holdings in shares of General Mills by 6.3% in the 2nd quarter. SPC Financial Inc. now owns 8,470 shares of the company’s stock valued at $445,000 after buying an additional 500 shares during the period. 69.19% of the stock is owned by institutional investors.

Several research analysts have recently commented on GIS shares. Guggenheim lifted their price target on shares of General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Piper Jaffray Companies boosted their target price on shares of General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Zacks Investment Research reissued a “strong-buy” rating on shares of General Mills in a research note on Thursday, May 30th. Evercore ISI initiated coverage on shares of General Mills in a research note on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price for the company. Finally, Goldman Sachs Group lowered shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price for the company. in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.66.

Shares of GIS stock traded up $0.69 during midday trading on Friday, reaching $55.02. 4,273,500 shares of the company were exchanged, compared to its average volume of 3,268,696. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $55.29. The company has a market cap of $32.45 billion, a P/E ratio of 17.09, a PEG ratio of 2.28 and a beta of 0.77. The company’s 50 day moving average price is $53.51 and its two-hundred day moving average price is $50.71. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.79 EPS. General Mills’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that General Mills, Inc. will post 3.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.56%. General Mills’s dividend payout ratio (DPR) is 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 Article: What are the most popular ETFs

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.