Strategic Global Advisors LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,676 shares of the company’s stock after selling 3,097 shares during the quarter. Strategic Global Advisors LLC’s holdings in General Mills were worth $3,049,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of GIS. Cibc World Market Inc. grew its stake in General Mills by 4.8% in the first quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,003 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in General Mills by 45.3% in the first quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock worth $397,000 after purchasing an additional 1,828 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in shares of General Mills by 2.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock worth $4,955,000 after purchasing an additional 1,503 shares during the period. Baird Financial Group Inc. lifted its position in shares of General Mills by 2.3% in the 1st quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after buying an additional 6,176 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of General Mills by 15.3% in the 1st quarter. Covestor Ltd now owns 1,834 shares of the company’s stock valued at $124,000 after buying an additional 244 shares during the period. 75.31% of the stock is currently owned by hedge funds and other institutional investors.
General Mills Trading Down 0.6 %
Shares of General Mills stock traded down $0.41 on Tuesday, reaching $65.48. 1,471,551 shares of the company were exchanged, compared to its average volume of 3,477,079. General Mills, Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $90.89. The firm has a market capitalization of $38.06 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.93 and a beta of 0.24. 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 stock has a fifty day moving average price of $72.10 and a 200-day moving average price of $79.86.
General Mills Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.59 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.54. The ex-dividend date was Friday, July 7th. This represents a $2.36 dividend on an annualized basis and a yield of 3.60%. General Mills’s dividend payout ratio (DPR) is currently 54.76%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GIS shares. 888 reiterated a “maintains” rating on shares of General Mills in a research note on Thursday, June 29th. JPMorgan Chase & Co. reduced their target price on shares of General Mills from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, August 21st. Morgan Stanley decreased their target price on shares of General Mills from $77.00 to $72.00 in a research report on Thursday, June 29th. Argus raised General Mills from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Friday, July 14th. Finally, BNP Paribas lowered General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.28.
About General Mills
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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