Lynch & Associates IN lessened its stake in General Mills, Inc. (NYSE:GIS – Free Report) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,225 shares of the company’s stock after selling 650 shares during the quarter. Lynch & Associates IN’s holdings in General Mills were worth $2,855,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in GIS. Pacer Advisors Inc. increased its stake in shares of General Mills by 28.7% in the second quarter. Pacer Advisors Inc. now owns 46,692 shares of the company’s stock worth $3,581,000 after buying an additional 10,411 shares during the last quarter. Keel Point LLC increased its position in shares of General Mills by 12.2% in the 2nd quarter. Keel Point LLC now owns 2,694 shares of the company’s stock worth $207,000 after purchasing an additional 292 shares during the last quarter. Patton Fund Management Inc. lifted its position in shares of General Mills by 115.6% during the second quarter. Patton Fund Management Inc. now owns 38,252 shares of the company’s stock worth $2,934,000 after purchasing an additional 20,507 shares during the last quarter. Sciencast Management LP bought a new position in shares of General Mills during the second quarter worth about $1,150,000. Finally, Cardinal Capital Management grew its stake in General Mills by 0.4% in the second quarter. Cardinal Capital Management now owns 103,676 shares of the company’s stock worth $7,952,000 after purchasing an additional 369 shares in the last quarter. 75.31% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GIS has been the topic of a number of research analyst reports. 888 reaffirmed a “maintains” rating on shares of General Mills in a report on Thursday, June 29th. StockNews.com assumed coverage on shares of General Mills in a report on Thursday, August 17th. They issued a “hold” rating for the company. Argus upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Friday, July 14th. Evercore ISI decreased their price target on shares of General Mills from $85.00 to $80.00 in a report on Thursday, June 29th. Finally, Piper Sandler dropped their price objective on shares of General Mills from $88.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus target price of $78.11.
General Mills Price Performance
NYSE:GIS traded down $0.38 during mid-day trading on Tuesday, reaching $65.72. 2,727,072 shares of the stock were exchanged, compared to its average volume of 3,508,571. General Mills, Inc. has a 1-year low of $64.70 and a 1-year high of $90.89. The company has a current ratio of 0.69, a quick ratio of 0.40 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $38.20 billion, a PE ratio of 15.34, a PEG ratio of 2.19 and a beta of 0.24. The business has a fifty day moving average price of $71.24 and a 200 day moving average price of $79.46.
General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.05. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Research analysts expect that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year.
General Mills Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, July 7th. This is a positive change from General Mills’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a dividend yield of 3.59%. General Mills’s dividend payout ratio (DPR) is currently 54.76%.
About General Mills
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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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