Patriot Wealth Management Inc. Has $3.36 Million Stake in General Mills, Inc. (GIS)
Patriot Wealth Management Inc. raised its position in General Mills, Inc. (NYSE:GIS) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,647 shares of the company’s stock after buying an additional 2,008 shares during the period. Patriot Wealth Management Inc.’s holdings in General Mills were worth $3,360,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Manning & Napier Advisors LLC raised its stake in shares of General Mills by 6.0% in the first quarter. Manning & Napier Advisors LLC now owns 103,428 shares of the company’s stock worth $6,102,000 after buying an additional 5,873 shares during the last quarter. West Oak Capital LLC raised its stake in shares of General Mills by 1.9% in the first quarter. West Oak Capital LLC now owns 20,960 shares of the company’s stock worth $1,237,000 after buying an additional 400 shares during the last quarter. Boltwood Capital Management raised its stake in shares of General Mills by 3.6% in the first quarter. Boltwood Capital Management now owns 18,517 shares of the company’s stock worth $1,092,000 after buying an additional 650 shares during the last quarter. Nepsis Capital Management Inc. raised its stake in shares of General Mills by 4.0% in the first quarter. Nepsis Capital Management Inc. now owns 114,070 shares of the company’s stock worth $6,731,000 after buying an additional 4,393 shares during the last quarter. Finally, Weaver C. Barksdale & Associates Inc. raised its stake in shares of General Mills by 67.6% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 23,170 shares of the company’s stock worth $1,367,000 after buying an additional 9,345 shares during the last quarter. Institutional investors and hedge funds own 70.35% of the company’s stock.
Shares of General Mills, Inc. (GIS) traded down 0.09% on Friday, hitting $56.17. 5,578,344 shares of the company were exchanged. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96. The firm’s 50-day moving average is $55.28 and its 200-day moving average is $58.21. The stock has a market capitalization of $32.42 billion, a PE ratio of 20.28 and a beta of 0.61.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the company earned $0.66 EPS. General Mills’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post $3.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.49%. The ex-dividend date was Thursday, July 6th. This is a boost from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio is currently 70.76%.
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A number of equities research analysts have issued reports on GIS shares. Royal Bank Of Canada set a $65.00 price target on General Mills and gave the stock a “hold” rating in a research note on Monday, April 24th. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target for the company in a research note on Monday, May 1st. Credit Suisse Group reiterated a “neutral” rating and issued a $56.00 price target (down previously from $65.00) on shares of General Mills in a research note on Friday, May 19th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, Piper Jaffray Companies assumed coverage on General Mills in a research report on Wednesday, May 24th. They set an “underweight” rating and a $57.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus 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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