Fairscale Capital LLC Sells 202 Shares of General Mills, Inc. $GIS

by · The Markets Daily

Fairscale Capital LLC lessened its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669 shares of the company’s stock after selling 202 shares during the quarter. Fairscale Capital LLC’s holdings in General Mills were worth $40,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GIS. Charles Schwab Investment Management Inc. boosted its stake in General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after purchasing an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of General Mills by 34.5% during the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after buying an additional 2,341,137 shares during the last quarter. Northern Trust Corp grew its holdings in General Mills by 18.4% during the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock worth $514,101,000 after buying an additional 1,253,483 shares in the last quarter. Dimensional Fund Advisors LP raised its position in General Mills by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock valued at $417,674,000 after buying an additional 634,393 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in General Mills by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,846,576 shares of the company’s stock valued at $436,606,000 after buying an additional 561,731 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on GIS shares. Bank of America lowered their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, June 26th. UBS Group dropped their target price on shares of General Mills from $52.00 to $49.00 and set a “sell” rating on the stock in a research report on Thursday, June 26th. The Goldman Sachs Group downgraded General Mills from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Stifel Nicolaus reduced their price objective on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.73.

Check Out Our Latest Stock Analysis on GIS

General Mills Price Performance

Shares of NYSE GIS opened at $49.65 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. General Mills, Inc. has a fifty-two week low of $48.59 and a fifty-two week high of $75.90. The stock has a market cap of $26.93 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.25 and a beta of -0.01. The stock has a fifty day moving average of $51.31 and a 200-day moving average of $55.49.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.61 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. General Mills’s dividend payout ratio is 59.51%.

General Mills Company Profile

(Free Report)

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

Further Reading

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