Altavista Wealth Management Inc. decreased its holdings in General Mills, Inc. (NYSE:GIS) by 6.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 20,291 shares of the company’s stock after selling 1,486 shares during the period. Altavista Wealth Management Inc.’s holdings in General Mills were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in General Mills in the 2nd quarter worth about $115,000. Adviser Investments LLC raised its stake in General Mills by 158.7% in the 2nd quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock worth $115,000 after purchasing an additional 1,600 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in General Mills in the 2nd quarter worth about $118,000. Kiley Juergens Wealth Management LLC raised its stake in General Mills by 108.2% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock worth $129,000 after purchasing an additional 1,568 shares in the last quarter. Finally, ELM Advisors LLC acquired a new stake in General Mills in the 3rd quarter worth about $137,000. Institutional investors and hedge funds own 69.06% of the company’s stock.
GIS has been the subject of several analyst reports. ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $52.00 target price on shares of General Mills in a research report on Monday, September 17th. Morgan Stanley initiated coverage on shares of General Mills in a research report on Monday, September 17th. They issued an “equal weight” rating and a $48.00 target price for the company. Finally, Credit Suisse Group set a $46.00 target price on shares of 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 given a hold rating and four have given a buy rating to the company. General Mills presently has an average rating of “Hold” and an average price target of $50.29.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.19% and a return on equity of 31.84%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Wednesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 63.02%.
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General Mills Company Profile
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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