AE Wealth Management LLC grew its holdings in General Mills, Inc. (NYSE:GIS) by 38.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,081 shares of the company’s stock after purchasing an additional 3,665 shares during the quarter. AE Wealth Management LLC’s holdings in General Mills were worth $677,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Advisor Group LLC raised its holdings in General Mills by 21.8% during the 2nd quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock worth $2,968,000 after buying an additional 9,952 shares during the period. Boston Advisors LLC raised its holdings in shares of General Mills by 1.8% in the second quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock valued at $1,156,000 after purchasing an additional 375 shares during the last quarter. Bfsg LLC acquired a new stake in shares of General Mills in the first quarter valued at approximately $2,843,000. LVW Advisors LLC bought a new position in shares of General Mills in the second quarter valued at $2,515,000. Finally, PVG Asset Management Corp bought a new position in General Mills during the first quarter worth $6,352,000. 72.61% of the stock is currently owned by institutional investors.
A number of research firms recently commented on GIS. Wells Fargo & Co lowered their target price on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $60.00 target price on shares of General Mills in a report on Wednesday, September 6th. Edward Jones reiterated a “hold” rating on shares of General Mills in a report on Wednesday, December 20th. Susquehanna Bancshares set a $56.00 price target on General Mills and gave the stock a “hold” rating in a report on Tuesday, October 17th. Finally, Goldman Sachs Group restated a “sell” rating on shares of General Mills in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.52.
Shares of General Mills, Inc. (GIS) traded down $0.25 during midday trading on Tuesday, hitting $59.04. The company had a trading volume of 4,100,000 shares, compared to its average volume of 4,200,000. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. The stock has a market cap of $33,550.00, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $63.73.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.82. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. sell-side analysts anticipate that General Mills, Inc. will post 3.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.32%. General Mills’s dividend payout ratio is currently 71.79%.
General Mills 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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