FormulaFolio Investments LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,335 shares of the company’s stock, valued at approximately $500,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ellevest Inc. purchased a new stake in General Mills during the second quarter worth $28,000. Capital International Ltd. CA purchased a new stake in General Mills during the second quarter worth $30,000. KCS Wealth Advisory purchased a new stake in General Mills during the third quarter worth $36,000. Quest Capital Management Inc. ADV purchased a new stake in General Mills during the third quarter worth $37,000. Finally, Venturi Wealth Management LLC purchased a new stake in General Mills during the third quarter worth $41,000. Institutional investors own 69.56% of the company’s stock.
A number of analysts have commented on the company. Royal Bank of Canada reiterated a “hold” rating and set a $57.00 target price on shares of General Mills in a research report on Wednesday, December 18th. Evercore ISI assumed coverage on General Mills in a report on Friday, December 20th. They issued a “hold” rating and a $56.00 price target for the company. Deutsche Bank assumed coverage on General Mills in a report on Wednesday, December 11th. They issued a “buy” rating and a $61.00 price target for the company. BMO Capital Markets boosted their price target on General Mills from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, UBS Group boosted their price target on General Mills from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. General Mills has a consensus rating of “Hold” and a consensus price target of $55.50.
NYSE GIS opened at $53.72 on Friday. General Mills, Inc. has a fifty-two week low of $42.20 and a fifty-two week high of $56.40. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The business has a fifty day moving average of $52.83 and a 200-day moving average of $53.25. The company has a quick ratio of 0.37, a current ratio of 0.61 and a debt-to-equity ratio of 1.37.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. General Mills had a return on equity of 27.33% and a net margin of 12.62%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.49 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.96 annualized dividend and a yield of 3.65%. General Mills’s payout ratio is currently 60.87%.
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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