General Mills, Inc. (GIS) Shares Bought by Level Four Advisory Services LLC
Level Four Advisory Services LLC increased its position in General Mills, Inc. (NYSE:GIS) by 11.0% during the first quarter, Holdings Channel reports. The institutional investor owned 8,144 shares of the company’s stock after buying an additional 804 shares during the period. Level Four Advisory Services LLC’s holdings in General Mills were worth $474,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GIS. MEMBERS Trust Co bought a new stake in shares of General Mills during the first quarter worth approximately $416,000. Oppenheimer Asset Management Inc. bought a new stake in shares of General Mills during the first quarter worth approximately $518,000. Oppenheimer & Co. Inc. raised its stake in shares of General Mills by 5.6% in the first quarter. Oppenheimer & Co. Inc. now owns 43,741 shares of the company’s stock worth $2,580,000 after buying an additional 2,337 shares in the last quarter. HighVista Strategies LLC bought a new stake in shares of General Mills during the first quarter worth approximately $1,977,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of General Mills by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,734,936 shares of the company’s stock worth $161,389,000 after buying an additional 129,560 shares in the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) traded up 0.199% during mid-day trading on Thursday, reaching $55.881. 711,009 shares of the company traded hands. General Mills, Inc. has a 52 week low of $53.24 and a 52 week high of $71.96. The firm has a 50-day moving average price of $54.98 and a 200 day moving average price of $58.01. The firm has a market capitalization of $32.25 billion, a price-to-earnings ratio of 20.174 and a beta of 0.61.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the company 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 anticipate that General Mills, Inc. will post $3.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. This is a boost from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio (DPR) is currently 70.76%.
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A number of analysts have recently commented on the stock. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research note on Tuesday. Piper Jaffray Companies set a $56.00 price target on shares of General Mills and gave the stock a “sell” rating in a research note on Monday. BidaskClub upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $62.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $58.00 price target (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target 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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