IFG Advisory LLC raised its position in General Mills, Inc. (NYSE:GIS) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,456 shares of the company’s stock after buying an additional 1,247 shares during the period. IFG Advisory LLC’s holdings in General Mills were worth $577,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in General Mills by 23.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,721 shares of the company’s stock worth $253,000 after purchasing an additional 1,100 shares in the last quarter. LexAurum Advisors LLC lifted its stake in General Mills by 15.5% in the 2nd quarter. LexAurum Advisors LLC now owns 8,236 shares of the company’s stock worth $365,000 after purchasing an additional 1,105 shares in the last quarter. Excalibur Management Corp lifted its stake in General Mills by 5.1% in the 2nd quarter. Excalibur Management Corp now owns 23,328 shares of the company’s stock worth $1,032,000 after purchasing an additional 1,139 shares in the last quarter. Stokes & Hubbell Capital Management LLC lifted its stake in General Mills by 10.6% in the 3rd quarter. Stokes & Hubbell Capital Management LLC now owns 11,968 shares of the company’s stock worth $536,000 after purchasing an additional 1,145 shares in the last quarter. Finally, Atria Investments LLC lifted its stake in General Mills by 2.1% in the 2nd quarter. Atria Investments LLC now owns 58,403 shares of the company’s stock worth $2,585,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 70.84% of the company’s stock.
A number of research firms have weighed in on GIS. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 target price on shares of General Mills in a research note on Monday, September 17th. Morgan Stanley began coverage on shares of General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 price target on the stock. 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. ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.29.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 earnings per share. Analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Wednesday, January 9th. General Mills’s payout ratio is 63.02%.
In other news, Director Maria Sastre bought 1,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were bought at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.
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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