Biltmore Wealth Management LLC Sells 4,851 Shares of General Mills, Inc. (GIS)
Biltmore Wealth Management LLC reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 43.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,261 shares of the company’s stock after selling 4,851 shares during the period. Biltmore Wealth Management LLC’s holdings in General Mills were worth $324,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in General Mills by 5.9% during the 1st quarter. Van ECK Associates Corp now owns 9,028 shares of the company’s stock worth $533,000 after acquiring an additional 503 shares in the last quarter. CFO4Life Group LLC acquired a new position in General Mills during the 1st quarter worth approximately $223,000. Gofen & Glossberg LLC IL grew its holdings in General Mills by 0.7% during the 1st quarter. Gofen & Glossberg LLC IL now owns 14,391 shares of the company’s stock worth $849,000 after acquiring an additional 100 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in General Mills by 10.4% during the 1st quarter. OppenheimerFunds Inc. now owns 34,117 shares of the company’s stock worth $2,013,000 after acquiring an additional 3,201 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in General Mills during the 1st quarter worth approximately $359,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. Bank of America lowered their price target on shares of General Mills from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. Citigroup restated a “buy” rating and issued a $67.00 target price on shares of General Mills in a report on Thursday, September 21st. Susquehanna Bancshares restated a “hold” rating and issued a $58.00 target price on shares of General Mills in a report on Tuesday, September 19th. Royal Bank Of Canada restated a “hold” rating and issued a $62.00 target price on shares of General Mills in a report on Wednesday, September 6th. Finally, BMO Capital Markets restated a “hold” rating and issued a $60.00 target price on shares of General Mills in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. General Mills has an average rating of “Hold” and a consensus price target of $56.60.
Shares of General Mills, Inc. (NYSE:GIS) traded down $0.10 during trading on Friday, reaching $56.46. 4,289,524 shares of the company’s stock were exchanged, compared to its average volume of 3,713,809. The stock has a market cap of $32,090.00, a P/E ratio of 18.22, a P/E/G ratio of 2.04 and a beta of 0.63. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $64.06.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. equities analysts anticipate that General Mills, Inc. will post 3.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. The ex-dividend date was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.47%. General Mills’s payout ratio is currently 70.25%.
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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