Legg Mason Asset Management Japan Co. Ltd. acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,500 shares of the company’s stock, valued at approximately $970,000.
A number of other hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC boosted its position in General Mills by 21.8% during the second quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock worth $2,968,000 after purchasing an additional 9,952 shares in the last quarter. Boston Advisors LLC boosted its position in General Mills by 1.8% during the second quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock worth $1,156,000 after purchasing an additional 375 shares in the last quarter. Bfsg LLC purchased a new stake in General Mills during the first quarter worth $2,843,000. LVW Advisors LLC purchased a new stake in General Mills during the second quarter worth $2,515,000. Finally, PVG Asset Management Corp purchased a new stake in General Mills during the first quarter worth $6,352,000. 69.88% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of General Mills, Inc. (NYSE:GIS) opened at $52.97 on Tuesday. The company has a market capitalization of $30,281.07, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.63. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $64.06.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. sell-side analysts anticipate that General Mills, Inc. will post 3.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 3.70%. General Mills’s dividend payout ratio is presently 70.25%.
A number of analysts have commented on the company. Bank of America Corporation decreased their target price on General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Citigroup Inc. restated a “buy” rating and issued a $67.00 price objective on shares of General Mills in a research report on Thursday, September 21st. Royal Bank Of Canada restated a “hold” rating and issued a $62.00 price objective on shares of General Mills in a research report on Wednesday, September 6th. BMO Capital Markets restated a “hold” rating and issued a $60.00 price objective on shares of General Mills in a research report on Wednesday, September 6th. Finally, Susquehanna Bancshares Inc restated a “hold” rating and issued a $58.00 price objective on shares of General Mills in a research report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. General Mills presently has an average rating of “Hold” and a consensus price target of $56.60.
About General Mills
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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