Beech Hill Advisors Inc. bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,100 shares of the company’s stock, valued at approximately $3,326,000.
Several other large investors also recently modified their holdings of the stock. Ellevest Inc. purchased a new stake in shares of General Mills in the second quarter valued at $28,000. Capital International Ltd. CA bought a new stake in shares of General Mills in the 2nd quarter valued at approximately $30,000. KCS Wealth Advisory bought a new stake in shares of General Mills in the 3rd quarter valued at approximately $36,000. Quest Capital Management Inc. ADV bought a new stake in shares of General Mills in the 3rd quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of General Mills in the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 69.56% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Deutsche Bank assumed coverage on General Mills in a report on Wednesday, December 11th. They issued a “buy” rating and a $61.00 price target for the company. ValuEngine lowered General Mills from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 26th. Barclays reiterated a “hold” rating and set a $55.00 price target on shares of General Mills in a research report on Friday, September 20th. Royal Bank of Canada restated a “hold” rating and issued a $57.00 price objective on shares of General Mills in a report on Wednesday, December 18th. Finally, Evercore ISI started coverage on General Mills in a report on Friday, December 20th. They issued a “hold” rating and a $56.00 price objective for the company. Two investment 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. The stock has an average rating of “Hold” and a consensus price target of $55.50.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.88 by $0.07. General Mills had a return on equity of 27.33% and a net margin of 12.62%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts forecast that General Mills, Inc. will post 3.39 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Thursday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.65%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
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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