New England Research & Management Inc. Buys 12,450 Shares of General Mills, Inc. (NYSE:GIS)

New England Research & Management Inc. grew its stake in General Mills, Inc. (NYSE:GIS) by 168.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,825 shares of the company’s stock after acquiring an additional 12,450 shares during the period. New England Research & Management Inc.’s holdings in General Mills were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GIS. Disciplined Investments LLC raised its stake in shares of General Mills by 245.9% in the first quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock worth $25,000 after acquiring an additional 209 shares during the last quarter. FWL Investment Management LLC bought a new position in shares of General Mills in the fourth quarter worth about $25,000. Almanack Investment Partners LLC. bought a new position in shares of General Mills in the third quarter worth about $28,000. AXS Investments LLC bought a new position in shares of General Mills in the fourth quarter worth about $30,000. Finally, Pacific Center for Financial Services bought a new position in shares of General Mills in the first quarter worth about $39,000. 75.31% of the stock is owned by institutional investors.

General Mills Stock Up 0.9 %

Shares of General Mills stock traded up $0.59 on Thursday, hitting $65.85. The company had a trading volume of 168,992 shares, compared to its average volume of 3,466,181. The firm has a market capitalization of $38.27 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.93 and a beta of 0.24. General Mills, Inc. has a twelve month low of $64.70 and a twelve month high of $90.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.69 and a quick ratio of 0.40. The stock has a 50-day moving average of $71.62 and a 200-day moving average of $79.65.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $1.12 earnings per share. Research analysts predict that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Friday, July 7th. This is a positive change from General Mills’s previous quarterly dividend of $0.54. General Mills’s payout ratio is currently 54.76%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GIS. BNP Paribas cut shares of General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Tuesday, September 5th. Wells Fargo & Company lowered their price target on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, September 7th. Bank of America lowered their price target on shares of General Mills from $82.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday, August 23rd. Stifel Nicolaus lowered their price target on shares of General Mills from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, September 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Mills from $82.00 to $77.00 and set a “hold” rating for the company in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.79.

General Mills Company 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.