Checchi Capital Advisers LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,701 shares of the company’s stock, valued at approximately $204,000.
A number of other hedge funds have also added to or reduced their stakes in GIS. BlackRock Inc. lifted its stake in General Mills by 15.8% during the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after purchasing an additional 6,544,997 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in General Mills by 24,698.3% during the second quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock valued at $191,063,000 after purchasing an additional 3,623,246 shares during the last quarter. Iridian Asset Management LLC CT acquired a new stake in General Mills during the second quarter valued at approximately $106,946,000. Renaissance Technologies LLC lifted its stake in General Mills by 44.6% during the second quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock valued at $279,085,000 after purchasing an additional 1,639,900 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock valued at $2,477,631,000 after purchasing an additional 643,774 shares during the last quarter. 68.33% of the stock is owned by institutional investors and hedge funds.
In other General Mills news, insider Jonathon Nudi sold 18,951 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $54.52, for a total value of $1,033,208.52. Following the completion of the sale, the insider now owns 81,656 shares in the company, valued at approximately $4,451,885.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kofi A. Bruce sold 15,582 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the sale, the insider now owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, equities analysts predict that General Mills, Inc. will post 3.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.73%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
Several analysts recently commented on GIS shares. 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, August 22nd. Stifel Nicolaus increased their target price on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Credit Suisse Group reissued a “hold” rating and set a $56.00 target price on shares of General Mills in a research note on Thursday, September 12th. Royal Bank of Canada started coverage on shares of General Mills in a research note on Thursday, October 17th. They set a “sector perform” rating and a $57.00 target price for the company. Finally, Barclays reissued a “hold” rating and set a $55.00 target price on shares of General Mills in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.82.
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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