General Mills, Inc. (NYSE:GIS) was the recipient of a significant increase in short interest in the month of September. As of September 29th, there was short interest totalling 26,454,021 shares, an increase of 8.4% from the September 15th total of 24,400,672 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily volume of 5,629,868 shares, the days-to-cover ratio is presently 4.7 days.
Several large investors have recently bought and sold shares of GIS. Lenox Wealth Advisors Inc. increased its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares during the period. Cable Hill Partners LLC increased its stake in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares during the period. Winslow Evans & Crocker Inc. increased its stake in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after acquiring an additional 69 shares during the period. Hanson McClain Inc. increased its stake in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after acquiring an additional 35 shares during the period. Finally, IHT Wealth Management LLC boosted its position in General Mills by 33.4% in the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after buying an additional 627 shares in the last quarter. Institutional investors own 70.39% of the company’s stock.
Several equities analysts have commented on the company. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $57.00 price objective (down from $60.00) on shares of General Mills in a report on Thursday, September 21st. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $52.00 price target (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and set a $53.00 price objective on shares of General Mills in a research report on Thursday, September 21st. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. General Mills presently has a consensus rating of “Hold” and an average price target of $56.60.
General Mills (GIS) opened at 51.57 on Friday. The firm has a market capitalization of $29.31 billion, a PE ratio of 18.48 and a beta of 0.61. The company’s 50-day moving average price is $52.72 and its 200 day moving average price is $55.30. General Mills has a 1-year low of $50.13 and a 1-year high of $64.06.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities analysts anticipate that General Mills will post $3.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.80%. General Mills’s payout ratio is 70.25%.
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About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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