Quilter Plc Lowers Position in General Mills, Inc. (NYSE:GIS)

by · The Cerbat Gem

Quilter Plc reduced its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 40.0% during the first quarter, Holdings Channel.com reports. The fund owned 10,746 shares of the company’s stock after selling 7,160 shares during the quarter. Quilter Plc’s holdings in General Mills were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GIS. Perpetual Ltd lifted its holdings in General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock valued at $324,000 after acquiring an additional 184 shares during the period. Fairscale Capital LLC increased its position in shares of General Mills by 30.2% during the 4th quarter. Fairscale Capital LLC now owns 871 shares of the company’s stock valued at $56,000 after purchasing an additional 202 shares during the last quarter. City Center Advisors LLC increased its position in shares of General Mills by 3.4% during the 1st quarter. City Center Advisors LLC now owns 6,071 shares of the company’s stock valued at $363,000 after purchasing an additional 202 shares during the last quarter. Security National Bank of SO Dak lifted its stake in shares of General Mills by 0.7% in the 4th quarter. Security National Bank of SO Dak now owns 31,290 shares of the company’s stock worth $1,995,000 after purchasing an additional 205 shares during the period. Finally, Canopy Partners LLC boosted its holdings in shares of General Mills by 4.1% in the fourth quarter. Canopy Partners LLC now owns 5,212 shares of the company’s stock worth $332,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a report on Thursday. Bank of America reduced their price objective on General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup lowered their target price on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Jefferies Financial Group boosted their price target on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Finally, UBS Group reduced their price target on General Mills from $52.00 to $49.00 and set a “sell” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.50.

Check Out Our Latest Stock Analysis on GIS

General Mills Price Performance

GIS stock opened at $50.38 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.44 and a current ratio of 0.67. The company’s fifty day moving average price is $54.48 and its 200-day moving average price is $58.47. General Mills, Inc. has a one year low of $50.24 and a one year high of $75.90. The company has a market capitalization of $27.77 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.02.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 4.84%. General Mills’s dividend payout ratio is presently 52.75%.

About General Mills

(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.

See Also

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