Brookstone Capital Management Raises Stake in General Mills, Inc. (GIS)
Brookstone Capital Management boosted its stake in General Mills, Inc. (NYSE:GIS) by 4.0% during the third quarter, Holdings Channel reports. The firm owned 12,057 shares of the company’s stock after buying an additional 462 shares during the period. Brookstone Capital Management’s holdings in General Mills were worth $770,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in General Mills during the second quarter valued at approximately $107,000. Lenox Wealth Advisors Inc. raised its position in General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares in the last quarter. Advisory Services Network LLC raised its position in General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock valued at $127,000 after buying an additional 48 shares in the last quarter. Hanson & Doremus Investment Management raised its position in General Mills by 5.7% in the second quarter. Hanson & Doremus Investment Management now owns 1,866 shares of the company’s stock valued at $133,000 after buying an additional 100 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new position in General Mills during the second quarter valued at approximately $150,000. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (NYSE:GIS) traded down 0.31% during trading on Friday, reaching $61.08. 1,853,784 shares of the company were exchanged. The firm has a 50-day moving average price of $62.03 and a 200-day moving average price of $65.56. The stock has a market capitalization of $35.43 billion, a P/E ratio of 22.81 and a beta of 0.54. General Mills, Inc. has a 1-year low of $53.53 and a 1-year high of $72.95.
General Mills (NYSE:GIS) last issued its earnings results on Tuesday, December 20th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The firm earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.23 billion. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. Equities research analysts predict that General Mills, Inc. will post $3.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, January 6th. General Mills’s payout ratio is 71.64%.
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Several research firms recently commented on GIS. Barclays PLC reiterated an “equal weight” rating and issued a $66.00 price target on shares of General Mills in a research report on Friday, September 23rd. Wells Fargo & Company restated a “market perform” rating on shares of General Mills in a research report on Tuesday, December 27th. BMO Capital Markets restated a “hold” rating and set a $74.00 target price on shares of General Mills in a research report on Thursday, September 22nd. S&P Equity Research restated a “buy” rating and set a $70.00 target price on shares of General Mills in a research report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. General Mills has a consensus rating of “Hold” and an average price target of $67.00.
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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