Ingalls & Snyder LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,758 shares of the company’s stock after selling 295 shares during the quarter. Ingalls & Snyder LLC’s holdings in General Mills were worth $1,755,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of GIS. Keudell Morrison Wealth Management boosted its holdings in shares of General Mills by 377.0% in the 2nd quarter. Keudell Morrison Wealth Management now owns 46,609 shares of the company’s stock valued at $2,448,000 after purchasing an additional 36,838 shares in the last quarter. APG Asset Management N.V. acquired a new stake in shares of General Mills during the 2nd quarter valued at $2,869,000. Profund Advisors LLC boosted its holdings in shares of General Mills by 19.4% during the 2nd quarter. Profund Advisors LLC now owns 11,442 shares of the company’s stock valued at $601,000 after acquiring an additional 1,858 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of General Mills by 4.2% during the 2nd quarter. Asset Management One Co. Ltd. now owns 325,621 shares of the company’s stock valued at $17,102,000 after acquiring an additional 13,116 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of General Mills by 7.1% during the 2nd quarter. Lido Advisors LLC now owns 9,683 shares of the company’s stock valued at $508,000 after acquiring an additional 645 shares in the last quarter. 69.56% of the stock is currently owned by hedge funds and other institutional investors.
GIS has been the topic of several recent research reports. Morgan Stanley raised their price objective on General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. ValuEngine downgraded General Mills from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their price objective on General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, September 19th. UBS Group raised their price objective on General Mills from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $57.00 price objective on shares of General Mills in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.50.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. General Mills had a return on equity of 27.33% and a net margin of 12.62%. General Mills’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, equities research analysts expect that General Mills, Inc. will post 3.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.67%. The ex-dividend date is Thursday, January 9th. General Mills’s dividend payout ratio is currently 60.87%.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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