Pitcairn Co. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 46.3% during the 3rd quarter, Holdings Channel reports. The firm owned 8,760 shares of the company’s stock after purchasing an additional 2,772 shares during the quarter. Pitcairn Co.’s holdings in General Mills were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of General Mills in the second quarter valued at approximately $115,000. Adviser Investments LLC boosted its position in shares of General Mills by 158.7% in the second quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock valued at $115,000 after acquiring an additional 1,600 shares during the period. CSat Investment Advisory L.P. bought a new stake in shares of General Mills in the second quarter valued at approximately $118,000. Kiley Juergens Wealth Management LLC boosted 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 acquiring an additional 1,568 shares during the period. Finally, ELM Advisors LLC bought a new stake in shares of General Mills in the third quarter valued at approximately $137,000. Institutional investors own 70.84% of the company’s stock.
Shares of GIS stock opened at $43.85 on Thursday. The firm has a market capitalization of $26.13 billion, a P/E ratio of 14.10, a PEG ratio of 1.84 and a beta of 0.60. General Mills, Inc. has a one year low of $41.01 and a one year 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a yield of 4.47%. General Mills’s dividend payout ratio (DPR) is currently 63.02%.
In other news, Director Maria Sastre bought 1,000 shares of General Mills stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average cost of $47.37 per share, with a total value of $47,370.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $47,370. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
GIS has been the subject of several research reports. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price objective on shares of General Mills in a research report on Monday, September 17th. Morgan Stanley initiated coverage on General Mills in a research report on Monday, September 17th. They issued an “equal weight” rating and a $48.00 price objective for the company. Finally, Credit Suisse Group set a $46.00 price objective on General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $50.29.
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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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