Gulf International Bank UK Ltd increased its position in shares of General Mills, Inc. (NYSE:GIS) by 14.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 210,072 shares of the company’s stock after purchasing an additional 26,255 shares during the quarter. Gulf International Bank UK Ltd’s holdings in General Mills were worth $9,016,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in GIS. Adviser Investments LLC boosted its stake in General Mills by 158.7% in the second quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock valued at $115,000 after acquiring an additional 1,600 shares during the last quarter. Acadian Asset Management LLC purchased a new position in General Mills in the second quarter valued at about $115,000. CSat Investment Advisory L.P. purchased a new position in General Mills in the second quarter valued at about $118,000. Kiley Juergens Wealth Management LLC boosted its stake in General Mills by 108.2% in the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock valued at $129,000 after acquiring an additional 1,568 shares during the last quarter. Finally, ELM Advisors LLC purchased a new position in General Mills in the third quarter valued at about $137,000. Institutional investors and hedge funds own 70.84% of the company’s stock.
In other General Mills news, Director Maria Sastre purchased 1,000 shares of the stock in a transaction dated Monday, August 20th. The shares were bought at an average price of $47.37 per share, with a total value of $47,370.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $47,370. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.
NYSE GIS opened at $44.44 on Friday. General Mills, Inc. has a 12-month low of $41.01 and a 12-month high of $60.69. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.35 and a current ratio of 0.58. The company has a market capitalization of $26.13 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.84 and a beta of 0.60.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Wednesday, January 9th. General Mills’s dividend payout ratio (DPR) is currently 63.02%.
A number of research analysts have weighed in on the stock. Piper Jaffray Companies set a $45.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, July 12th. Credit Suisse Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, September 13th. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.00 target price on shares of General Mills in a research note on Monday, September 17th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company’s stock. General Mills currently has a consensus rating of “Hold” and a consensus price target of $50.29.
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.
Further Reading: Technical Analysis
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