Northside Capital Management LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 18.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,075 shares of the company’s stock after acquiring an additional 2,859 shares during the quarter. Northside Capital Management LLC’s holdings in General Mills were worth $996,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in 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 increased its position in 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 General Mills in the 2nd quarter valued at about $266,000. BlackRock Inc. increased its position in 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 General Mills during the 2nd quarter worth approximately $255,000. 68.66% of the stock is owned by institutional investors and hedge funds.
In other news, insider Kofi A. Bruce sold 15,582 shares of the business’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 value of $846,570.06. Following the transaction, the insider now owns 35,487 shares in the company, valued at approximately $1,928,008.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by insiders.
A number of analysts have commented on GIS shares. UBS Group boosted their price objective on General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Guggenheim boosted their price objective on General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Edward Jones raised General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Barclays reissued a “hold” rating and set a $55.00 price objective on shares of General Mills in a report on Friday, September 20th. Finally, Piper Jaffray Companies boosted their price objective on General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. General Mills currently has a consensus rating of “Hold” and an average price target of $53.64.
Shares of NYSE GIS traded down $0.19 during midday trading on Friday, reaching $54.42. The company’s stock had a trading volume of 1,631,177 shares, compared to its average volume of 3,569,577. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $56.40. The firm has a 50 day moving average price of $54.22 and a 200-day moving average price of $52.84. The stock has a market capitalization of $32.73 billion, a P/E ratio of 16.90, a PEG ratio of 2.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.37.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. General Mills had a return on equity of 27.38% and a net margin of 11.21%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that General Mills, Inc. will post 3.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.60%. General Mills’s payout ratio 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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