Redwood Investment Management LLC bought a new stake in General Mills, Inc. (NYSE:GIS – Free Report) during the 1st quarter, Holdings Channel reports. The firm bought 17,165 shares of the company’s stock, valued at approximately $639,000.
Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its holdings in General Mills by 5.2% in the first quarter. Empowered Funds LLC now owns 209,451 shares of the company’s stock valued at $7,796,000 after acquiring an additional 10,323 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in General Mills by 2.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 16,185 shares of the company’s stock worth $602,000 after acquiring an additional 393 shares during the last quarter. NewEdge Advisors LLC increased its stake in General Mills by 72.8% during the first quarter. NewEdge Advisors LLC now owns 123,524 shares of the company’s stock worth $4,598,000 after acquiring an additional 52,046 shares during the last quarter. Financial Solutions Advisory Group Inc. purchased a new stake in General Mills in the first quarter valued at $1,323,000. Finally, Alpine Woods Capital Investors LLC lifted its stake in shares of General Mills by 635.8% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 86,461 shares of the company’s stock valued at $3,218,000 after purchasing an additional 74,711 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.
General Mills Stock Up 0.8%
Shares of NYSE:GIS opened at $36.02 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The firm has a market capitalization of $19.23 billion, a PE ratio of -200.13 and a beta of -0.03. The firm’s 50-day moving average is $35.35 and its two-hundred day moving average is $38.38. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.
General Mills Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. BNP Paribas Exane upped their target price on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Piper Sandler dropped their price target on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Barclays reduced their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $39.16.
Read Our Latest Report on General Mills
Insider Buying and Selling at General Mills
In related news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.
General Mills Profile
General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.
Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.
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