SG Americas Securities LLC raised its position in General Mills, Inc. (NYSE:GIS) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,333 shares of the company’s stock after buying an additional 1,114 shares during the period. SG Americas Securities LLC’s holdings in General Mills were worth $7,868,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Numeric Investors LLC purchased a new position in shares of General Mills during the fourth quarter worth $204,000. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of General Mills during the fourth quarter worth $15,491,000. Wealthfront Inc. increased its position in shares of General Mills by 5.6% in the fourth quarter. Wealthfront Inc. now owns 10,888 shares of the company’s stock worth $673,000 after buying an additional 581 shares in the last quarter. Hudson Bay Capital Management LP increased its position in shares of General Mills by 416.4% in the fourth quarter. Hudson Bay Capital Management LP now owns 35,940 shares of the company’s stock worth $2,220,000 after buying an additional 47,299 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in General Mills by 3.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,503 shares of the company’s stock valued at $454,000 after buying an additional 237 shares during the period. 70.35% of the stock is owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (NYSE GIS) traded down 0.54% during trading on Wednesday, hitting $54.90. 210,122 shares of the stock were exchanged. The stock has a market cap of $31.68 billion, a PE ratio of 19.82 and a beta of 0.61. The firm has a 50 day moving average of $55.28 and a 200-day moving average of $58.21. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. General Mills’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. Equities research analysts anticipate that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.49 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, July 6th. General Mills’s payout ratio is currently 70.76%.
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Several equities research analysts have recently commented on GIS shares. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target on the stock in a report on Monday, May 1st. Royal Bank Of Canada set a $62.00 price target on shares of General Mills and gave the stock a “hold” rating in a report on Wednesday. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Credit Suisse Group reiterated a “neutral” rating and issued a $56.00 target price (down from $65.00) on shares of General Mills in a research note on Friday, May 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 target price (down from $58.00) on shares of General Mills in a research note on Sunday, June 25th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $59.93.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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