Charter Trust Co. grew its position in General Mills, Inc. (NYSE:GIS) by 30.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,417 shares of the company’s stock after purchasing an additional 6,174 shares during the quarter. Charter Trust Co.’s holdings in General Mills were worth $1,133,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in GIS. Acadian Asset Management LLC bought a new position in shares of General Mills in the second quarter valued at approximately $115,000. CSat Investment Advisory L.P. bought a new position in shares of General Mills in the second quarter valued at approximately $118,000. Kiley Juergens Wealth Management LLC raised its position in shares of General Mills by 108.2% in the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock valued at $129,000 after purchasing an additional 1,568 shares during the period. ELM Advisors LLC bought a new position in shares of General Mills in the third quarter valued at approximately $137,000. Finally, Selective Wealth Management bought a new position in shares of General Mills in the third quarter valued at approximately $139,000. 68.67% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on GIS. Bank of America dropped their price target on shares of General Mills from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. Piper Jaffray Companies set a $47.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Credit Suisse Group set a $46.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Thursday, September 13th. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price target on shares of General Mills in a research report on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.06.
Shares of General Mills stock opened at $38.48 on Friday. The firm has a market capitalization of $23.69 billion, a PE ratio of 12.77, a P/E/G ratio of 1.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.35 and a current ratio of 0.58. General Mills, Inc. has a 1 year low of $38.17 and a 1 year high of $60.69.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a net margin of 13.19% and a return on equity of 31.84%. General Mills’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 5.09%. General Mills’s payout ratio is 63.02%.
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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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