Caisse DE Depot ET Placement DU Quebec lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 2.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 218,075 shares of the company’s stock after buying an additional 4,300 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in General Mills were worth $11,335,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. lifted its stake in General Mills by 0.8% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after purchasing an additional 15 shares in the last quarter. Cable Hill Partners LLC lifted its stake in General Mills by 274.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after purchasing an additional 1,647 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of General Mills by 322.7% in the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of General Mills by 127.3% in the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after buying an additional 1,459 shares during the last quarter. Finally, Spectrum Management Group Inc. bought a new stake in shares of General Mills in the 3rd quarter worth about $135,000. Institutional investors own 72.59% of the company’s stock.
Shares of General Mills, Inc. (NYSE GIS) traded down $0.24 during trading hours on Friday, reaching $57.85. 2,585,259 shares of the company traded hands, compared to its average volume of 3,055,700. The company has a market cap of $32,920.00, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 2.64 and a beta of 0.66. General Mills, Inc. has a one year low of $49.65 and a one year high of $63.73. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53.
General Mills (NYSE:GIS) last issued its 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 the consensus estimate of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. analysts predict that General Mills, Inc. will post 3.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid 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 yield of 3.39%. General Mills’s dividend payout ratio is currently 71.79%.
A number of research firms have recently weighed in on GIS. Wells Fargo & Co reduced their target price on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Piper Jaffray Companies upgraded shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a report on Wednesday, January 3rd. Edward Jones restated a “hold” rating on shares of General Mills in a report on Wednesday, December 20th. Susquehanna Bancshares set a $56.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Tuesday, October 17th. Finally, BMO Capital Markets restated a “neutral” rating on shares of General Mills in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $58.17.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.
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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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