Geneos Wealth Management Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,946 shares of the company’s stock after selling 2,202 shares during the period. Geneos Wealth Management Inc.’s holdings in General Mills were worth $1,619,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. FWL Investment Management LLC acquired a new stake in General Mills during the 4th quarter worth about $25,000. James Investment Research Inc. acquired a new position in shares of General Mills in the 4th quarter valued at about $26,000. AXS Investments LLC acquired a new position in shares of General Mills in the 4th quarter valued at about $30,000. Almanack Investment Partners LLC. acquired a new position in shares of General Mills in the 3rd quarter valued at about $28,000. Finally, Paragon Wealth Strategies LLC increased its holdings in shares of General Mills by 164.9% in the 4th quarter. Paragon Wealth Strategies LLC now owns 392 shares of the company’s stock valued at $33,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 76.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on GIS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $76.00 target price on shares of General Mills in a report on Friday, March 24th. JPMorgan Chase & Co. dropped their target price on General Mills from $81.00 to $75.00 in a report on Thursday, June 29th. StockNews.com downgraded General Mills from a “buy” rating to a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $86.00 to $82.00 in a report on Thursday, June 29th. Finally, Mizuho increased their price objective on General Mills from $75.00 to $80.00 in a report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $82.24.
Insider Activity
General Mills Stock Down 0.5 %
Shares of General Mills stock opened at $74.79 on Tuesday. The stock has a market capitalization of $43.77 billion, a P/E ratio of 17.35, a PEG ratio of 2.23 and a beta of 0.24. The company has a quick ratio of 0.40, a current ratio of 0.69 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $83.48 and a two-hundred day moving average price of $82.48. General Mills, Inc. has a 12-month low of $72.16 and a 12-month high of $90.89.
General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. General Mills had a return on equity of 24.47% and a net margin of 12.91%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the prior year, the business earned $1.12 earnings per share. General Mills’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current year.
General Mills Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.16%. This is a boost from General Mills’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Friday, July 7th. General Mills’s dividend payout ratio is currently 54.76%.
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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