General Mills, Inc. $GIS Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 90.9% in the third quarter, Holdings Channel.com reports. The fund owned 141,677 shares of the company’s stock after purchasing an additional 67,458 shares during the period. D.A. Davidson & CO.’s holdings in General Mills were worth $4,556,000 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 GIS. Brown Shipley& Co Ltd purchased a new position in shares of General Mills during the 1st quarter worth approximately $26,000. Silvant Capital Management LLC acquired a new stake in General Mills in the 2nd quarter valued at approximately $26,000. Main Street Group LTD purchased a new stake in General Mills in the first quarter valued at approximately $27,000. Elevation Wealth Partners LLC purchased a new stake in General Mills in the second quarter valued at approximately $27,000. Finally, CoreCap Advisors LLC raised its position in General Mills by 92.9% in the second quarter. CoreCap Advisors LLC now owns 787 shares of the company’s stock valued at $27,000 after purchasing an additional 379 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GIS. Sanford C. Bernstein restated an “underperform” rating and set a $30.00 price target on shares of General Mills in a research report on Thursday, September 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of General Mills in a research note on Monday, September 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $34.00 price objective (up from $33.00) on shares of General Mills in a report on Thursday, September 24th. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Piper Sandler restated an “overweight” rating on shares of General Mills in a report on Thursday, September 24th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $36.59.

General Mills Trading Up 2.9%

NYSE:GIS opened at $34.27 on Friday. General Mills, Inc. has a 12-month low of $31.17 and a 12-month high of $49.59. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66. The stock’s 50 day simple moving average is $35.40 and its 200-day simple moving average is $37.61. The firm has a market cap of $18.32 billion, a P/E ratio of -20.64, a PEG ratio of 1.86 and a beta of 0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the previous year, the company posted $0.86 EPS. General Mills’s revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that General Mills, Inc. will post 3.08 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, October 13th. General Mills’s dividend payout ratio is -146.99%.

General Mills Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.