Portside Wealth Group LLC grew its position in General Mills, Inc. (NYSE:GIS – Free Report) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,437 shares of the company’s stock after acquiring an additional 395 shares during the quarter. Portside Wealth Group LLC’s holdings in General Mills were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of GIS. Values First Advisors Inc. acquired a new stake in General Mills during the 3rd quarter worth $27,000. RFP Financial Group LLC raised its holdings in shares of General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. First Foundation Advisors boosted its stake in shares of General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of General Mills during the second quarter worth about $38,000. Finally, Beacon Capital Management LLC increased its position in General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after acquiring an additional 180 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GIS has been the topic of several analyst reports. Bank of America lifted their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, Barclays increased their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.00.
General Mills Trading Up 0.9 %
Shares of GIS stock opened at $65.55 on Friday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $71.60 and a 200-day simple moving average of $69.09. The stock has a market cap of $36.39 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.50 and a beta of 0.11.
General Mills (NYSE:GIS – Get Free Report) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.
General Mills Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is currently 57.14%.
Insider Buying and Selling at General Mills
In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is owned by insiders.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.
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