HighTower Advisors LLC Has $23 Million Stake in General Mills, Inc. (GIS)
HighTower Advisors LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 2.5% during the first quarter, Holdings Channel reports. The firm owned 388,966 shares of the company’s stock after buying an additional 9,557 shares during the period. HighTower Advisors LLC’s holdings in General Mills were worth $22,999,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GIS. Berkshire Asset Management LLC PA increased its stake in General Mills by 2.2% in the first quarter. Berkshire Asset Management LLC PA now owns 340,445 shares of the company’s stock valued at $20,090,000 after buying an additional 7,292 shares during the period. Piershale Financial Group Inc. increased its stake in General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,425 shares of the company’s stock valued at $261,000 after buying an additional 34 shares during the period. Doyle Wealth Management purchased a new stake in General Mills during the first quarter valued at about $428,000. Cribstone Capital Management LLC increased its stake in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the period. Finally, Tompkins Financial Corp increased its stake in 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 during the period. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
General Mills, Inc. (NYSE GIS) traded up 0.53% on Friday, reaching $56.59. 3,702,017 shares of the company’s stock were exchanged. General Mills, Inc. has a 12 month low of $53.24 and a 12 month high of $71.96. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 20.43 and a beta of 0.61. The firm has a 50-day moving average of $55.00 and a 200-day moving average of $57.96.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. On average, equities analysts expect that General Mills, Inc. will post $3.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio (DPR) is 70.76%.
Several research firms recently issued reports on GIS. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $67.00 price target on shares of General Mills in a research note on Thursday, June 15th. Royal Bank Of Canada set a $65.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Monday, April 24th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $59.00 price target (down previously from $62.00) on shares of General Mills in a research note on Tuesday, May 30th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The company 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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