Fruth Investment Management Has $2,105,000 Position in General Mills Inc. (GIS)
Fruth Investment Management reduced its position in shares of General Mills Inc. (NYSE:GIS) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,965 shares of the company’s stock after selling 1,100 shares during the period. General Mills accounts for 1.0% of Fruth Investment Management’s portfolio, making the stock its 26th largest position. Fruth Investment Management’s holdings in General Mills were worth $2,105,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hallmark Capital Management Inc. purchased a new position in shares of General Mills during the second quarter worth approximately $103,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of General Mills during the second quarter worth approximately $107,000. Brick & Kyle Associates increased its position in shares of General Mills by 6.7% in the second quarter. Brick & Kyle Associates now owns 1,592 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the period. Lenox Wealth Advisors Inc. increased its position in shares of General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock worth $114,000 after buying an additional 12 shares during the period. Finally, Advisory Services Network LLC increased its position in shares of General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock worth $127,000 after buying an additional 48 shares during the period. 67.98% of the stock is owned by institutional investors and hedge funds.
Shares of General Mills Inc. (NYSE:GIS) traded down 2.74% during midday trading on Wednesday, hitting $60.94. 5,940,025 shares of the company traded hands. The stock has a 50 day moving average of $61.59 and a 200-day moving average of $66.04. The stock has a market capitalization of $36.04 billion, a PE ratio of 22.16 and a beta of 0.55. General Mills Inc. has a 52 week low of $53.53 and a 52 week high of $72.95.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company earned $3.91 billion during the quarter. General Mills had a net margin of 10.33% and a return on equity of 33.82%. General Mills’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. Equities analysts forecast that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 10th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 3.15%. General Mills’s payout ratio is currently 69.82%.
A number of brokerages have recently commented on GIS. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, November 22nd. S&P Equity Research reissued a “buy” rating and issued a $70.00 price objective on shares of General Mills in a research report on Tuesday, September 27th. RBC Capital Markets reissued an “outperform” rating and issued a $73.00 price objective on shares of General Mills in a research report on Friday, September 23rd. Barclays PLC reissued an “equal weight” rating and issued a $66.00 price objective on shares of General Mills in a research report on Friday, September 23rd. Finally, set a $65.00 target price on shares of General Mills and gave the stock a “sell” rating in a report on Thursday, September 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $67.56.
General Mills Company Profile
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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