AdvisorNet Financial Inc lifted its stake in shares of General Mills (NYSE:GIS) by 78.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,122 shares of the company’s stock after purchasing an additional 6,645 shares during the period. AdvisorNet Financial Inc’s holdings in General Mills were worth $681,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Avestar Capital LLC acquired a new position in General Mills during the fourth quarter valued at $100,000. Truewealth LLC acquired a new position in General Mills during the fourth quarter valued at $119,000. Financial Gravity Companies Inc. acquired a new position in General Mills during the fourth quarter valued at $131,000. Delpha Capital Management LLC acquired a new position in General Mills during the fourth quarter valued at $161,000. Finally, Front Row Advisors LLC acquired a new position in General Mills during the fourth quarter valued at $166,000. 73.99% of the stock is currently owned by institutional investors.
Shares of NYSE:GIS opened at $43.05 on Thursday. General Mills has a twelve month low of $42.45 and a twelve month high of $42.94. The company has a market cap of $24.20 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.34.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 21st. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. equities research analysts forecast that General Mills will post 3.07 earnings per share for the current fiscal year.
General Mills declared that its Board of Directors has initiated a share buyback program on Friday, February 23rd that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.55%. General Mills’s payout ratio is presently 63.64%.
Several research analysts have weighed in on the company. Goldman Sachs raised General Mills from a “sell” rating to a “neutral” rating and set a $47.00 target price on the stock in a research report on Wednesday. JPMorgan Chase dropped their target price on General Mills from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 14th. Jefferies Group raised General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, February 14th. Susquehanna Bancshares set a $61.00 target price on General Mills and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.43.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. 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, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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