Congress Wealth Management LLC DE boosted its position in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 14.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,873 shares of the company’s stock after acquiring an additional 501 shares during the quarter. Congress Wealth Management LLC DE’s holdings in General Mills were worth $297,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in GIS. Moneta Group Investment Advisors LLC grew its holdings in General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after purchasing an additional 11,067,051 shares during the last quarter. Norges Bank bought a new position in General Mills during the 4th quarter valued at about $382,081,000. Price T Rowe Associates Inc. MD grew its holdings in General Mills by 101.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after purchasing an additional 3,496,741 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in General Mills by 627.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,536,513 shares of the company’s stock valued at $41,213,000 after purchasing an additional 3,050,525 shares during the last quarter. Finally, Morgan Stanley grew its holdings in General Mills by 14.6% during the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after purchasing an additional 1,051,169 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors.
General Mills Price Performance
Shares of GIS opened at $64.82 on Friday. The company has a 50 day moving average price of $70.31 and a 200-day moving average price of $78.98. General Mills, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $90.89. The stock has a market capitalization of $37.68 billion, a PE ratio of 15.81, a PEG ratio of 2.18 and a beta of 0.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.40 and a current ratio of 0.72.
General Mills Increases Dividend
The company also recently disclosed 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 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, July 7th. This is a positive change from General Mills’s previous quarterly dividend of $0.54. General Mills’s payout ratio is 57.56%.
Analyst Upgrades and Downgrades
GIS has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of General Mills from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, September 18th. Stifel Nicolaus lowered their price objective on shares of General Mills from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, September 7th. Argus raised shares of General Mills from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, July 14th. Royal Bank of Canada lowered their price objective on shares of General Mills from $78.00 to $76.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Morgan Stanley lowered their price objective on shares of General Mills from $72.00 to $58.00 and set an “underweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $75.74.
View Our Latest Stock Analysis on GIS
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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