Gallacher Capital Management LLC Invests $639,000 in General Mills, Inc. (NYSE:GIS)

Gallacher Capital Management LLC bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,694 shares of the company's stock, valued at approximately $639,000.

Several other hedge funds have also recently bought and sold shares of GIS. Perkins Coie Trust Co increased its holdings in General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after purchasing an additional 211 shares in the last quarter. Transce3nd LLC bought a new stake in General Mills during the 4th quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC bought a new stake in General Mills during the 1st quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new stake in General Mills during the 4th quarter worth approximately $38,000. Finally, Strategic Investment Solutions Inc. IL grew its stake in shares of General Mills by 1,096.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock worth $39,000 after purchasing an additional 548 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Down 0.7%

NYSE GIS traded down $0.34 during mid-day trading on Thursday, hitting $50.93. The company's stock had a trading volume of 2,532,774 shares, compared to its average volume of 5,585,689. The company's 50 day simple moving average is $52.84 and its 200 day simple moving average is $56.76. General Mills, Inc. has a twelve month low of $49.04 and a twelve month high of $75.90. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $27.62 billion and a price-to-earnings ratio of 12.42.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. Analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.61 per share. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.79%. General Mills's payout ratio is presently 59.51%.

Wall Street Analyst Weigh In

GIS has been the topic of several analyst reports. UBS Group reduced their price objective on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. Morgan Stanley reiterated an "underweight" rating and issued a $51.00 target price (down from $53.00) on shares of General Mills in a report on Tuesday, June 24th. Bank of America reduced their price objective on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Barclays reduced their price objective on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, General Mills has a consensus rating of "Hold" and an average target price of $59.73.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.