Allworth Financial LP lifted its stake in General Mills, Inc. (NYSE:GIS) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,053 shares of the company’s stock after purchasing an additional 816 shares during the period. Allworth Financial LP’s holdings in General Mills were worth $271,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Ellevest Inc. purchased a new position in General Mills in the second quarter valued at $28,000. Capital International Ltd. CA purchased a new position in General Mills in the second quarter valued at $30,000. KCS Wealth Advisory purchased a new position in General Mills in the third quarter valued at $36,000. Quest Capital Management Inc. ADV purchased a new position in General Mills in the third quarter valued at $37,000. Finally, Venturi Wealth Management LLC purchased a new position in General Mills in the third quarter valued at $41,000. Hedge funds and other institutional investors own 69.56% of the company’s stock.
General Mills stock opened at $53.72 on Friday. General Mills, Inc. has a 1-year low of $42.20 and a 1-year high of $56.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.61 and a quick ratio of 0.37. The stock has a market cap of $32.28 billion, a PE ratio of 16.68, a P/E/G ratio of 2.23 and a beta of 0.72. The stock’s fifty day moving average is $52.83 and its two-hundred day moving average is $53.25.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the firm earned $0.85 earnings per share. General Mills’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 3.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Thursday, January 9th. General Mills’s dividend payout ratio is presently 60.87%.
GIS has been the subject of a number of recent research reports. Evercore ISI initiated coverage on General Mills in a report on Friday, December 20th. They issued a “hold” rating and a $56.00 target price for the company. BMO Capital Markets lifted their target price on General Mills from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their target price on General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Barclays reiterated a “hold” rating and issued a $55.00 target price on shares of General Mills in a report on Friday, September 20th. Finally, UBS Group lifted their target price on General Mills from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. General Mills currently has a consensus rating of “Hold” and a consensus price target of $55.50.
About General Mills
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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