Westhampton Capital LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,551 shares of the company’s stock, valued at approximately $1,394,000. General Mills makes up 1.2% of Westhampton Capital LLC’s portfolio, making the stock its 25th largest position.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in General Mills by 1.1% in the first quarter. BlackRock Inc. now owns 41,345,362 shares of the company’s stock valued at $2,139,622,000 after buying an additional 435,121 shares in the last quarter. Northern Trust Corp raised its stake in General Mills by 2.8% during the first quarter. Northern Trust Corp now owns 7,590,022 shares of the company’s stock worth $392,784,000 after buying an additional 210,135 shares during the last quarter. Geode Capital Management LLC raised its stake in General Mills by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock worth $281,036,000 after buying an additional 473,831 shares during the last quarter. FMR LLC raised its stake in General Mills by 92.9% during the first quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after buying an additional 1,652,275 shares during the last quarter. Finally, Swiss National Bank raised its stake in General Mills by 2.8% during the first quarter. Swiss National Bank now owns 2,698,916 shares of the company’s stock worth $139,669,000 after buying an additional 72,500 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.
A number of brokerages recently weighed in on GIS. Guggenheim lifted their target price on shares of General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday. UBS Group lifted their target price on shares of General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Finally, Goldman Sachs Group downgraded shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price for the company. in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.98.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.79 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio is currently 60.87%.
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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