KG&L Capital Management LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 17.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,418 shares of the company’s stock after selling 3,266 shares during the quarter. KG&L Capital Management LLC’s holdings in General Mills were worth $849,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. grew its stake in shares of General Mills by 1.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 163,313 shares of the company’s stock valued at $8,578,000 after buying an additional 2,021 shares in the last quarter. Chesley Taft & Associates LLC grew its stake in shares of General Mills by 2.3% in the 2nd quarter. Chesley Taft & Associates LLC now owns 26,905 shares of the company’s stock valued at $1,413,000 after buying an additional 600 shares in the last quarter. BBT Capital Management LLC bought a new stake in shares of General Mills in the 2nd quarter valued at approximately $266,000. BlackRock Inc. grew its stake in shares of General Mills by 15.8% in the 2nd quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after buying an additional 6,544,997 shares in the last quarter. Finally, Roanoke Asset Management Corp NY bought a new stake in shares of General Mills in the 2nd quarter valued at approximately $255,000. 68.66% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the company. Barclays reissued a “hold” rating and issued a $55.00 price target on shares of General Mills in a research note on Friday, September 20th. Morgan Stanley boosted their price target on General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, August 22nd. Guggenheim boosted their price target on General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Piper Jaffray Companies boosted their price target on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and an average target price of $53.64.
General Mills stock traded down $0.26 during trading hours on Friday, reaching $54.35. 162,397 shares of the company were exchanged, compared to its average volume of 3,569,577. The firm has a market cap of $32.73 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.30 and a beta of 0.73. The company has a current ratio of 0.62, a quick ratio of 0.37 and a debt-to-equity ratio of 1.51. The stock has a 50-day moving average of $54.22 and a 200 day moving average of $52.84. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $56.40.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 27.38% and a net margin of 11.21%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 3.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.61%. General Mills’s payout ratio is currently 60.87%.
In other General Mills news, insider Kofi A. Bruce sold 15,582 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the sale, the insider now owns 35,487 shares of the company’s stock, valued at $1,928,008.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.
General Mills Company 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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