Mutual of America Capital Management LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 11.8% during the 3rd quarter, Holdings Channel reports. The firm owned 133,266 shares of the company’s stock after purchasing an additional 14,036 shares during the period. Mutual of America Capital Management LLC’s holdings in General Mills were worth $5,720,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its position in shares of General Mills by 23.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,721 shares of the company’s stock valued at $253,000 after buying an additional 1,100 shares in the last quarter. LexAurum Advisors LLC lifted its position in shares of General Mills by 15.5% during the 2nd quarter. LexAurum Advisors LLC now owns 8,236 shares of the company’s stock valued at $365,000 after buying an additional 1,105 shares in the last quarter. Stokes & Hubbell Capital Management LLC lifted its position in shares of General Mills by 10.6% during the 3rd quarter. Stokes & Hubbell Capital Management LLC now owns 11,968 shares of the company’s stock valued at $536,000 after buying an additional 1,145 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of General Mills by 5.3% during the 3rd quarter. Truvestments Capital LLC now owns 24,039 shares of the company’s stock valued at $1,032,000 after buying an additional 1,214 shares in the last quarter. Finally, IFG Advisory LLC lifted its position in shares of General Mills by 10.2% during the 3rd quarter. IFG Advisory LLC now owns 13,456 shares of the company’s stock valued at $577,000 after buying an additional 1,247 shares in the last quarter. 68.67% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on GIS shares. Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Credit Suisse Group set a $46.00 price objective on General Mills and gave the company a “hold” rating in a research report on Thursday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 price objective on shares of General Mills in a research report on Monday, September 17th. Finally, Morgan Stanley started coverage on General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.06.
Shares of GIS opened at $38.48 on Friday. The company has a market cap of $23.69 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 1.67 and a beta of 0.60. General Mills, Inc. has a 12-month low of $38.17 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.
General Mills (NYSE:GIS) last issued its 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. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. On average, equities analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.09%. The ex-dividend date is Wednesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 63.02%.
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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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