Raymond James Trust N.A. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,059 shares of the company’s stock after selling 476 shares during the period. Raymond James Trust N.A.’s holdings in General Mills were worth $2,253,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Ellevest Inc. acquired a new stake in shares of General Mills in the 2nd quarter valued at $28,000. Capital International Ltd. CA bought a new position in shares of General Mills in the 2nd quarter valued at $30,000. KCS Wealth Advisory acquired a new position in shares of General Mills during the 3rd quarter worth $36,000. Quest Capital Management Inc. ADV acquired a new position in shares of General Mills during the 3rd quarter worth $37,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of General Mills during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 69.56% of the company’s stock.
Several research firms recently weighed in on GIS. Morgan Stanley raised their price objective 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. Deutsche Bank started coverage on General Mills in a research note on Wednesday, December 11th. They set a “buy” rating and a $61.00 target price for the company. Stifel Nicolaus increased their target price on shares of General Mills from $52.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. ValuEngine lowered shares of General Mills from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 26th. Finally, Barclays reiterated a “hold” rating and set a $55.00 price objective on shares of General Mills in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and a consensus target price of $55.50.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. General Mills had a return on equity of 27.33% and a net margin of 12.62%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
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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