Kure Advisory LLC Buys Shares of 7,272 General Mills, Inc. $GIS

Key Points

• Kure Advisory LLC acquired 7,272 shares of General Mills, Inc. for about $377,000, indicating growing interest from institutional investors.
• General Mills recently increased its quarterly dividend to $0.61, reflecting a dividend yield of 4.9%.
• The company posted a quarterly earnings report showing an EPS of $0.86, surpassing expectations but down 6.8% year-over-year.

Kure Advisory LLC purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,272 shares of the company's stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GIS. Vident Advisory LLC increased its position in General Mills by 14.5% in the fourth quarter. Vident Advisory LLC now owns 9,910 shares of the company's stock worth $632,000 after buying an additional 1,252 shares in the last quarter. Forum Financial Management LP increased its position in General Mills by 44.7% in the fourth quarter. Forum Financial Management LP now owns 8,832 shares of the company's stock worth $563,000 after buying an additional 2,729 shares in the last quarter. Mackenzie Financial Corp increased its position in General Mills by 5.0% in the fourth quarter. Mackenzie Financial Corp now owns 479,939 shares of the company's stock worth $30,606,000 after buying an additional 22,668 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in General Mills in the fourth quarter worth about $47,000. Finally, Putney Financial Group LLC purchased a new stake in General Mills in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Price Performance

NYSE:GIS opened at $50.11 on Tuesday. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.27 and a beta of -0.02. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $74.98. The business has a 50 day simple moving average of $49.76 and a 200-day simple moving average of $53.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. Equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio is 46.12%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Barclays reduced their price target on General Mills from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Friday. UBS Group dropped their price objective on General Mills from $49.00 to $47.00 and set a "sell" rating for the company in a research note on Thursday. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Bank of America dropped their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $55.82.

General Mills 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.

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