National Asset Management Inc. raised its position in General Mills, Inc. (NYSE:GIS) by 11.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,273 shares of the company’s stock after purchasing an additional 654 shares during the quarter. National Asset Management Inc.’s holdings in General Mills were worth $348,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Lenox Wealth Advisors Inc. raised its position in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the period. Winslow Evans & Crocker Inc. raised its position in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after purchasing an additional 69 shares during the period. IHT Wealth Management LLC raised its position in General Mills by 33.4% in the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after purchasing an additional 627 shares during the period. Americafirst Capital Management LLC purchased a new stake in General Mills in the second quarter valued at approximately $158,000. Finally, V Wealth Management LLC purchased a new stake in General Mills in the second quarter valued at approximately $178,000. 69.88% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on GIS. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Susquehanna Bancshares Inc restated a “hold” rating and issued a $58.00 price target on shares of General Mills in a research note on Tuesday, September 19th. Piper Jaffray Companies set a $56.00 price target on shares of General Mills and gave the stock a “sell” rating in a research note on Monday, August 7th. Finally, BMO Capital Markets restated a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $56.60.
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General Mills, Inc. (NYSE:GIS) opened at $54.12 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74. The company has a market cap of $30,104.89, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.97 and a beta of 0.63. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $64.06.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. analysts expect that General Mills, Inc. will post 3.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a $0.49 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 3.62%. General Mills’s dividend payout ratio is presently 70.25%.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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