Access Financial Services Inc. Increases Position in General Mills, Inc. (GIS)
Access Financial Services Inc. boosted its position in General Mills, Inc. (NYSE:GIS) by 29.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,165 shares of the company’s stock after buying an additional 5,000 shares during the period. Access Financial Services Inc.’s holdings in General Mills were worth $1,228,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in GIS. Lenox Wealth Advisors Inc. increased its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares in the last quarter. Cribstone Capital Management LLC raised its position in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock worth $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC raised its position in General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock worth $130,000 after buying an additional 2,058 shares during the last quarter. 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 worth $136,000 after buying an additional 69 shares during the last quarter. Finally, Hanson McClain Inc. raised its position in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the last quarter. 70.40% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (NYSE:GIS) opened at 53.74 on Monday. The stock has a 50 day moving average price of $56.80 and a 200 day moving average price of $59.47. The stock has a market cap of $31.01 billion, a P/E ratio of 19.40 and a beta of 0.61. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $72.70.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts forecast that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be issued a $0.49 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.65%. General Mills’s dividend payout ratio (DPR) is presently 70.76%.
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GIS has been the subject of a number of analyst reports. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada cut their price target on General Mills from $65.00 to $62.00 and set a “sector perform” rating for the company in a report on Thursday, June 29th. Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $52.00 price target for the company. in a report on Tuesday, March 21st. Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $57.82 price target for the company in a report on Tuesday, June 27th. Finally, Stifel Nicolaus cut their price target on General Mills from $60.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, June 29th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and an average target price of $59.93.
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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