Legacy Capital Group California Inc. grew its stake in General Mills, Inc. (NYSE:GIS – Free Report) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,320 shares of the company’s stock after acquiring an additional 183 shares during the period. Legacy Capital Group California Inc.’s holdings in General Mills were worth $485,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cibc World Market Inc. lifted its holdings in General Mills by 4.8% during the 1st quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,003 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of General Mills by 45.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock worth $397,000 after buying an additional 1,828 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of General Mills by 2.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock worth $4,955,000 after buying an additional 1,503 shares during the period. Baird Financial Group Inc. grew its stake in General Mills by 2.3% in the 1st quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock valued at $18,935,000 after buying an additional 6,176 shares during the last quarter. Finally, Covestor Ltd raised its holdings in 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 acquiring an additional 244 shares during the period. Institutional investors own 75.31% of the company’s stock.
Analysts Set New Price Targets
GIS has been the topic of several research reports. Piper Sandler decreased their price target on shares of General Mills from $88.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. HSBC initiated coverage on shares of General Mills in a research note on Friday, September 22nd. They issued a “hold” rating and a $74.00 price target on the stock. Mizuho decreased their price target on shares of General Mills from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 21st. StockNews.com began coverage on shares of General Mills in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $74.94.
General Mills Trading Down 0.4 %
Shares of General Mills stock traded down $0.26 on Friday, hitting $64.76. The stock had a trading volume of 4,623,179 shares, compared to its average volume of 3,794,801. The stock has a 50 day moving average of $64.49 and a 200 day moving average of $73.31. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $90.89. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.72. The firm has a market capitalization of $37.64 billion, a P/E ratio of 15.80, a PEG ratio of 2.17 and a beta of 0.27.
General Mills (NYSE:GIS – Get Free Report) last released its quarterly earnings data on Wednesday, September 20th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. General Mills had a return on equity of 24.39% and a net margin of 12.07%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year.
General Mills Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio is currently 57.56%.
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.
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