Janney Montgomery Scott LLC boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,783 shares of the company’s stock after acquiring an additional 10,657 shares during the period. Janney Montgomery Scott LLC’s holdings in General Mills were worth $13,081,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. boosted its holdings in General Mills by 1,063.9% in the 2nd quarter. Macquarie Group Ltd. now owns 4,367,847 shares of the company’s stock valued at $193,313,000 after purchasing an additional 3,992,581 shares during the last quarter. Hamlin Capital Management LLC acquired a new position in General Mills in the 3rd quarter valued at about $48,392,000. Bank of Montreal Can acquired a new position in General Mills in the 2nd quarter valued at about $34,120,000. FMR LLC boosted its holdings in General Mills by 81.3% in the 2nd quarter. FMR LLC now owns 1,563,133 shares of the company’s stock valued at $69,185,000 after purchasing an additional 701,104 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in General Mills by 609.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 801,925 shares of the company’s stock valued at $35,494,000 after purchasing an additional 688,816 shares during the last quarter. 70.84% of the stock is owned by institutional investors.
Several research firms have weighed in on GIS. Credit Suisse Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Thursday, September 13th. UBS Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Wednesday, September 19th. ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Piper Jaffray Companies set a $47.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Wednesday, September 19th. Finally, Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.29.
In related news, Director Maria Sastre acquired 1,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were purchased at an average cost of $47.37 per share, for a total transaction of $47,370.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $47,370. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Shares of GIS stock opened at $45.31 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.35 and a debt-to-equity ratio of 1.93. General Mills, Inc. has a one year low of $41.01 and a one year high of $60.69. The company has a market capitalization of $26.14 billion, a PE ratio of 14.10, a P/E/G ratio of 1.84 and a beta of 0.60.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.33%. General Mills’s dividend payout ratio is currently 63.02%.
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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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