CX Institutional reduced its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,469 shares of the company’s stock after selling 475 shares during the quarter. CX Institutional’s holdings in General Mills were worth $222,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the business. Koshinski Asset Management Inc. lifted its holdings in shares of General Mills by 17.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 3,209 shares of the company’s stock valued at $205,000 after buying an additional 470 shares during the period. Caprock Group LLC lifted its holdings in shares of General Mills by 25.3% in the 3rd quarter. Caprock Group LLC now owns 21,102 shares of the company’s stock valued at $1,350,000 after buying an additional 4,259 shares during the period. Washington Trust Advisors Inc. lifted its holdings in shares of General Mills by 156.3% in the 3rd quarter. Washington Trust Advisors Inc. now owns 820 shares of the company’s stock valued at $52,000 after buying an additional 500 shares during the period. Wagner Wealth Management LLC lifted its holdings in shares of General Mills by 26.0% in the 3rd quarter. Wagner Wealth Management LLC now owns 4,435 shares of the company’s stock valued at $284,000 after buying an additional 916 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in General Mills by 18.9% during the third quarter. CreativeOne Wealth LLC now owns 9,676 shares of the company’s stock worth $619,000 after purchasing an additional 1,541 shares during the last quarter. 75.31% of the stock is owned by institutional investors and hedge funds.
General Mills Trading Up 0.3 %
NYSE GIS opened at $65.14 on Friday. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a current ratio of 0.64, a quick ratio of 0.36 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $36.99 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.27 and a beta of 0.25. The firm’s fifty day simple moving average is $65.05 and its 200-day simple moving average is $68.75.
General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings results on Wednesday, December 20th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.35 billion. General Mills had a net margin of 12.06% and a return on equity of 25.44%. General Mills’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.
General Mills Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is 57.42%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on General Mills from $72.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, December 21st. Bank of America reduced their price objective on General Mills from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, December 21st. JPMorgan Chase & Co. reduced their price objective on General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, September 18th. TD Cowen assumed coverage on General Mills in a report on Wednesday, September 13th. They set a “market perform” rating and a $70.00 price objective for the company. Finally, StockNews.com assumed coverage on General Mills in a report on Thursday, October 5th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.00.
Check Out Our Latest Stock Analysis on GIS
About General Mills
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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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