Janney Montgomery Scott LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 304,783 shares of the company’s stock after buying an additional 10,657 shares during the period. Janney Montgomery Scott LLC owned approximately 0.05% of General Mills worth $13,081,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. RPG Investment Advisory LLC lifted its position in General Mills by 141.0% during the third quarter. RPG Investment Advisory LLC now owns 38,101 shares of the company’s stock valued at $1,635,000 after purchasing an additional 22,291 shares during the period. Bigelow Investment Advisors LLC acquired a new position in General Mills during the third quarter valued at $459,000. Benedict Financial Advisors Inc. lifted its position in General Mills by 10.2% during the third quarter. Benedict Financial Advisors Inc. now owns 84,021 shares of the company’s stock valued at $3,606,000 after purchasing an additional 7,799 shares during the period. Gulf International Bank UK Ltd lifted its position in General Mills by 14.3% during the third quarter. Gulf International Bank UK Ltd now owns 210,072 shares of the company’s stock valued at $9,016,000 after purchasing an additional 26,255 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its position in General Mills by 6.1% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 95,165 shares of the company’s stock valued at $4,084,000 after purchasing an additional 5,500 shares during the period. Institutional investors and hedge funds own 70.84% of the company’s stock.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $52.00 target price on shares of General Mills in a research report on Monday, September 17th. Morgan Stanley assumed coverage on shares of General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 target price for the company. Credit Suisse Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research report on Thursday, September 13th. ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. General Mills has an average rating of “Hold” and a consensus price target of $50.29.
GIS opened at $45.31 on Friday. General Mills, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $60.69. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.58 and a quick ratio of 0.35. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.84 and a beta of 0.60.
General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.33%. General Mills’s dividend payout ratio is currently 63.02%.
In related news, Director Maria Sastre bought 1,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average price of $47.37 per share, with a total value of $47,370.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $47,370. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.
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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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