Toth Financial Advisory Corp raised its holdings in General Mills, Inc. (NYSE:GIS) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,239 shares of the company’s stock after purchasing an additional 2,920 shares during the period. Toth Financial Advisory Corp’s holdings in General Mills were worth $4,209,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Research Global Investors lifted its holdings in shares of General Mills by 203.5% during the 1st quarter. Capital Research Global Investors now owns 21,303,470 shares of the company’s stock worth $1,124,184,000 after acquiring an additional 14,283,883 shares during the period. Nordea Investment Management AB lifted its holdings in shares of General Mills by 103.3% during the 2nd quarter. Nordea Investment Management AB now owns 4,153,240 shares of the company’s stock worth $250,648,000 after acquiring an additional 2,109,943 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of General Mills by 90.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,204,615 shares of the company’s stock worth $135,916,000 after acquiring an additional 1,044,419 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of General Mills by 63.8% during the 2nd quarter. Two Sigma Advisers LP now owns 2,573,200 shares of the company’s stock worth $158,638,000 after acquiring an additional 1,002,600 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in shares of General Mills by 37.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,370,043 shares of the company’s stock worth $207,763,000 after acquiring an additional 925,963 shares during the period. 72.40% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. Guggenheim upped their price target on shares of General Mills from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, July 7th. Citigroup upped their price objective on shares of General Mills from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 24th. CSFB upgraded shares of General Mills to an “outperform” rating and set a $67.00 price objective for the company in a research report on Friday, September 25th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research report on Thursday, September 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. General Mills currently has a consensus rating of “Hold” and a consensus price target of $63.56.
In related news, insider Jonathon Nudi sold 10,786 shares of the stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $61.64, for a total transaction of $664,849.04. Following the transaction, the insider now directly owns 64,122 shares of the company’s stock, valued at $3,952,480.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is owned by corporate insiders.
Shares of GIS traded down $0.33 during trading hours on Friday, hitting $62.37. 2,884,061 shares of the stock were exchanged, compared to its average volume of 4,202,002. General Mills, Inc. has a fifty-two week low of $46.59 and a fifty-two week high of $66.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.49. The business has a 50-day moving average of $60.94 and a 200-day moving average of $61.15. The firm has a market capitalization of $38.13 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.31 and a beta of 0.60.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.13. The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.21 billion. General Mills had a net margin of 12.78% and a return on equity of 28.46%. General Mills’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, analysts forecast that General Mills, Inc. will post 3.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a dividend of $0.51 per share. The ex-dividend date is Thursday, October 8th. This is a positive change from General Mills’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 3.27%. General Mills’s dividend payout ratio is currently 56.51%.
General Mills 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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