Dark Forest Capital Management LP raised its position in General Mills, Inc. (NYSE:GIS – Free Report) by 1,054.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,887 shares of the company’s stock after purchasing an additional 2,637 shares during the period. Dark Forest Capital Management LP’s holdings in General Mills were worth $247,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Disciplined Investments LLC lifted its holdings in shares of General Mills by 245.9% during the 1st quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock worth $25,000 after acquiring an additional 209 shares during the period. FWL Investment Management LLC purchased a new position in shares of General Mills during the 4th quarter worth about $25,000. Almanack Investment Partners LLC. purchased a new position in shares of General Mills during the 3rd quarter worth about $28,000. AXS Investments LLC purchased a new position in shares of General Mills during the 4th quarter worth about $30,000. Finally, Private Ocean LLC lifted its holdings in shares of General Mills by 141.0% during the 1st quarter. Private Ocean LLC now owns 494 shares of the company’s stock worth $42,000 after acquiring an additional 289 shares during the period. 75.31% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of General Mills from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, August 21st. Stifel Nicolaus cut their price target on shares of General Mills from $95.00 to $86.00 in a report on Thursday, June 29th. Evercore ISI cut their price target on shares of General Mills from $85.00 to $80.00 in a report on Thursday, June 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $86.00 to $82.00 in a report on Thursday, June 29th. Finally, 888 restated a “maintains” rating on shares of General Mills in a report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $81.89.
General Mills Stock Down 2.1 %
GIS stock opened at $66.25 on Friday. General Mills, Inc. has a twelve month low of $65.90 and a twelve month high of $90.89. The company has a current ratio of 0.69, a quick ratio of 0.40 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $38.50 billion, a P/E ratio of 15.37, a PEG ratio of 2.03 and a beta of 0.23. The firm has a 50 day simple moving average of $73.58 and a 200-day simple moving average of $80.34.
General Mills (NYSE:GIS – Get Free Report) last released its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $5.18 billion. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. On average, equities research analysts predict that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.
General Mills Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, July 7th. This is an increase from General Mills’s previous quarterly dividend of $0.54. General Mills’s payout ratio is currently 54.76%.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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