Private Advisor Group LLC Has $2.97 Million Holdings in General Mills, Inc. (GIS)
Private Advisor Group LLC boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 21.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,573 shares of the company’s stock after purchasing an additional 9,952 shares during the quarter. Private Advisor Group LLC’s holdings in General Mills were worth $2,968,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of GIS. Waldron LP purchased a new stake in General Mills during the 1st quarter worth approximately $420,000. Lincoln National Corp increased its holdings in General Mills by 8.3% during the 1st quarter. Lincoln National Corp now owns 7,366 shares of the company’s stock worth $434,000 after purchasing an additional 567 shares during the last quarter. Karp Capital Management Corp purchased a new stake in General Mills during the 1st quarter worth approximately $25,717,000. First Foundation Advisors increased its holdings in General Mills by 14.1% during the 1st quarter. First Foundation Advisors now owns 6,225 shares of the company’s stock worth $367,000 after purchasing an additional 767 shares during the last quarter. Finally, Smith Salley & Associates increased its holdings in General Mills by 0.8% during the 1st quarter. Smith Salley & Associates now owns 5,540 shares of the company’s stock worth $327,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 70.45% of the company’s stock.
GIS has been the topic of several analyst reports. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $57.82 price objective on the stock in a report on Tuesday, June 27th. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Friday, September 15th. Citigroup Inc. reiterated a “buy” rating and issued a $67.00 target price on shares of General Mills in a research report on Thursday, September 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 target price (down previously from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus target price of $56.60.
General Mills, Inc. (NYSE GIS) opened at 52.01 on Friday. The company’s 50-day moving average price is $52.87 and its 200-day moving average price is $55.45. General Mills, Inc. has a 52-week low of $50.13 and a 52-week high of $64.06. The firm has a market cap of $29.56 billion, a price-to-earnings ratio of 18.63 and a beta of 0.61.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that General Mills, Inc. will post $3.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.77%. General Mills’s payout ratio is presently 70.25%.
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General Mills Company Profile
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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