Darwin Advisors LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 80.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,453 shares of the company’s stock after selling 67,463 shares during the quarter. Darwin Advisors LLC’s holdings in General Mills were worth $1,014,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC grew its position in General Mills by 2.1% during the second quarter. Commonwealth Equity Services LLC now owns 556,204 shares of the company’s stock worth $34,290,000 after buying an additional 11,284 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of General Mills by 2.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,973 shares of the company’s stock valued at $861,000 after acquiring an additional 345 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of General Mills by 14.6% in the 2nd quarter. Cigna Investments Inc. New now owns 19,553 shares of the company’s stock valued at $1,205,000 after acquiring an additional 2,488 shares during the last quarter. Courier Capital LLC lifted its stake in shares of General Mills by 15.0% in the 2nd quarter. Courier Capital LLC now owns 6,150 shares of the company’s stock valued at $378,000 after acquiring an additional 802 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of General Mills by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,100 shares of the company’s stock valued at $1,609,000 after acquiring an additional 400 shares during the last quarter. 72.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Jonathon Nudi sold 10,786 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $61.64, for a total value of $664,849.04. Following the transaction, the insider now owns 64,122 shares of the company’s stock, valued at approximately $3,952,480.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.
Shares of GIS opened at $62.37 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.49. The stock has a 50-day moving average of $60.94 and a 200-day moving average of $61.15. The company has a market cap of $38.13 billion, a PE ratio of 16.68, a P/E/G ratio of 2.31 and a beta of 0.60. General Mills, Inc. has a one year low of $46.59 and a one year high of $66.14.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.13. General Mills had a return on equity of 28.46% and a net margin of 12.78%. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the business posted $0.79 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 3.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a $0.51 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.04 annualized dividend and a yield of 3.27%. General Mills’s dividend payout ratio (DPR) is presently 56.51%.
A number of research analysts have recently commented on GIS shares. Credit Suisse Group upgraded General Mills from a “neutral” rating to an “outperform” rating and increased their price target for the company from $65.00 to $67.00 in a research note on Friday, September 25th. Citigroup increased their price target on General Mills from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 24th. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, July 7th. Morgan Stanley increased their price target on General Mills from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, September 24th. Finally, CSFB raised General Mills to an “outperform” rating and set a $67.00 target price for the company in a research report on Friday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.56.
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.
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