General Mills, Inc. (GIS) Shares Bought by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.6% during the first quarter, Holdings Channel reports. The institutional investor owned 43,741 shares of the company’s stock after buying an additional 2,337 shares during the period. Oppenheimer & Co. Inc.’s holdings in General Mills were worth $2,580,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in GIS. Alpha Windward LLC raised its stake in shares of General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock valued at $241,000 after buying an additional 34 shares in the last quarter. Tompkins Financial Corp raised its stake in shares of General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock valued at $372,000 after buying an additional 162 shares in the last quarter. Integrated Wealth Management raised its stake in shares of General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock valued at $519,000 after buying an additional 54 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in General Mills by 1.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 15,772 shares of the company’s stock valued at $870,000 after buying an additional 252 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in General Mills during the first quarter valued at $498,000. 70.97% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (GIS) traded up 0.53% during mid-day trading on Friday, hitting $56.59. The stock had a trading volume of 3,702,017 shares. The stock’s 50-day moving average is $55.00 and its 200 day moving average is $57.96. General Mills, Inc. has a 12 month low of $53.24 and a 12 month high of $71.96. The company has a market cap of $32.66 billion, a PE ratio of 20.43 and a beta of 0.61.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently declared 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. The ex-dividend date was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 3.46%. General Mills’s dividend payout ratio is presently 70.76%.
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Several research analysts have recently weighed in on the company. 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. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. UBS AG reiterated a “neutral” rating and set a $61.00 price target (down previously from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Piper Jaffray Companies reiterated an “underweight” rating and set a $56.00 price target (down previously from $57.00) on shares of General Mills in a research note on Monday, June 19th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $58.00 price target (down previously from $59.00) on shares of General Mills in a research note on Friday, June 30th. Six 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 stock. The stock has a consensus rating of “Hold” and a consensus 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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