Patton Fund Management Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 115.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,252 shares of the company’s stock after buying an additional 20,507 shares during the quarter. Patton Fund Management Inc.’s holdings in General Mills were worth $2,934,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GIS. Aspire Private Capital LLC bought a new position in shares of General Mills in the first quarter worth $23,614,735,000. Disciplined Investments LLC increased its holdings in General Mills by 245.9% in the 1st quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock valued at $25,000 after buying an additional 209 shares during the period. FWL Investment Management LLC acquired a new position in shares of General Mills in the 4th quarter valued at approximately $25,000. AXS Investments LLC bought a new stake in shares of General Mills during the 4th quarter worth approximately $30,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of General Mills during the 3rd quarter worth approximately $28,000. Institutional investors own 75.31% of the company’s stock.
General Mills Trading Down 0.2 %
NYSE GIS traded down $0.15 on Tuesday, reaching $65.95. The company had a trading volume of 845,949 shares, compared to its average volume of 3,496,989. The business has a 50 day moving average of $71.24 and a two-hundred day moving average of $79.46. 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 cap of $38.33 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 2.19 and a beta of 0.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.69 and a quick ratio of 0.40.
General Mills Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.58%. 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 dividend payout ratio (DPR) is currently 54.76%.
Analyst Upgrades and Downgrades
Several research analysts have commented on GIS shares. Evercore ISI lowered their price objective on shares of General Mills from $85.00 to $80.00 in a research report on Thursday, June 29th. 888 reissued a “maintains” rating on shares of General Mills in a report on Thursday, June 29th. TD Cowen began coverage on General Mills in a research note on Wednesday, September 13th. They issued a “market perform” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Morgan Stanley reduced their price target on shares of General Mills from $77.00 to $72.00 in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.11.
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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