J.W. Cole Advisors Inc. grew its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 98.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,493 shares of the company's stock after acquiring an additional 10,640 shares during the period. J.W. Cole Advisors Inc.'s holdings in General Mills were worth $1,285,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $32,000. Perkins Coie Trust Co increased its stake in General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills during the first quarter worth $34,000. Strategic Investment Solutions Inc. IL lifted its position in shares of General Mills by 1,096.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock worth $39,000 after buying an additional 548 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $38,000. 75.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GIS has been the subject of a number of research reports. Morgan Stanley restated an "underweight" rating and issued a $51.00 target price (down from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Stifel Nicolaus cut their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Bank of America cut 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 report on Thursday, June 26th. Finally, Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and dropped their price target for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Two research 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. Based on data from MarketBeat, General Mills currently has an average rating of "Hold" and an average price target of $59.73.
View Our Latest Report on General Mills
General Mills Stock Performance
GIS traded down $0.26 on Thursday, hitting $51.01. The company had a trading volume of 6,053,028 shares, compared to its average volume of 5,986,001. The stock has a market cap of $27.67 billion and a price-to-earnings ratio of 12.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The company's fifty day moving average price is $52.77 and its 200 day moving average price is $56.68. General Mills, Inc. has a 1-year low of $49.04 and a 1-year high of $75.90.
General Mills (NYSE:GIS - Get Free Report) last released its 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. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter last year, the firm posted $1.01 EPS. The company's revenue was down 3.3% on a year-over-year basis. Equities analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.
General Mills Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.78%. This is a positive change from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. General Mills's payout ratio is currently 59.51%.
About General Mills
(
Free Report)
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.
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