Bowling Portfolio Management LLC raised its position in General Mills, Inc. (NYSE:GIS) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,184 shares of the company’s stock after purchasing an additional 529 shares during the period. Bowling Portfolio Management LLC’s holdings in General Mills were worth $813,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Keudell Morrison Wealth Management raised its holdings in General Mills by 377.0% in the 2nd quarter. Keudell Morrison Wealth Management now owns 46,609 shares of the company’s stock worth $2,448,000 after acquiring an additional 36,838 shares during the period. Mackenzie Financial Corp raised its holdings in General Mills by 4.6% in the 2nd quarter. Mackenzie Financial Corp now owns 35,968 shares of the company’s stock worth $1,889,000 after acquiring an additional 1,575 shares during the period. Assetmark Inc. raised its holdings in General Mills by 7.4% in the 2nd quarter. Assetmark Inc. now owns 5,785 shares of the company’s stock worth $304,000 after acquiring an additional 399 shares during the period. Marshall Wace North America L.P. raised its holdings in General Mills by 145.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 17,933 shares of the company’s stock worth $941,000 after acquiring an additional 10,633 shares during the period. Finally, Man Group plc raised its holdings in General Mills by 121.5% in the 2nd quarter. Man Group plc now owns 115,998 shares of the company’s stock worth $6,092,000 after acquiring an additional 63,638 shares during the period. Hedge funds and other institutional investors own 69.56% of the company’s stock.
Several brokerages recently commented on GIS. ValuEngine downgraded shares of General Mills from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 26th. UBS Group boosted their price objective on shares of General Mills from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Evercore ISI initiated coverage on shares of General Mills in a report on Friday, December 20th. They set a “hold” rating and a $56.00 price objective on the stock. Royal Bank of Canada restated a “hold” rating and set a $57.00 price objective on shares of General Mills in a report on Wednesday, December 18th. Finally, Deutsche Bank initiated coverage on shares of General Mills in a report on Wednesday, December 11th. They set a “buy” rating and a $61.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. General Mills presently has a consensus rating of “Hold” and a consensus price target of $55.50.
NYSE:GIS opened at $53.85 on Friday. The company has a market cap of $32.49 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.26 and a beta of 0.72. The firm’s 50-day moving average is $52.83 and its 200-day moving average is $53.25. General Mills, Inc. has a 52-week low of $42.80 and a 52-week high of $56.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.37 and a current ratio of 0.61.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. General Mills had a net margin of 12.62% and a return on equity of 27.33%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Equities analysts predict that General Mills, Inc. will post 3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.49 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.64%. General Mills’s payout ratio is currently 60.87%.
About General Mills
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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