Hexavest Inc. Acquires Shares of 830,438 General Mills, Inc. (GIS)
Hexavest Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 830,438 shares of the company’s stock, valued at approximately $49,237,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Cable Hill Partners LLC boosted its stake in shares of General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the period. Grove Bank & Trust lifted its stake in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after acquiring an additional 1,878 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after acquiring an additional 1,459 shares during the last quarter. Spectrum Management Group Inc. purchased a new position in General Mills in the third quarter worth approximately $135,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after acquiring an additional 69 shares during the last quarter. 72.59% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on GIS shares. Wells Fargo & Co upgraded shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research note on Monday, December 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $57.00 price target (down previously from $60.00) on shares of General Mills in a research note on Thursday, September 21st. Argus reiterated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. Piper Jaffray Companies reiterated a “sell” rating and issued a $53.00 price target on shares of General Mills in a research note on Thursday, September 21st. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $53.00 price target on shares of General Mills in a research note on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.17.
Shares of General Mills, Inc. (NYSE:GIS) traded down $0.54 during trading hours on Friday, hitting $58.09. 2,878,400 shares of the stock traded hands, compared to its average volume of 3,114,512. The stock has a market cap of $32,920.00, a P/E ratio of 21.28, a PEG ratio of 2.64 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. General Mills, Inc. has a twelve month low of $49.65 and a twelve month high of $63.73.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the consensus estimate of $0.82. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. equities research analysts expect that General Mills, Inc. will post 3.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.37%. General Mills’s dividend payout ratio is presently 71.79%.
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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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