LVW Advisors LLC reduced its holdings in General Mills, Inc. (NYSE:GIS) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 52,463 shares of the company’s stock after selling 3,206 shares during the quarter. LVW Advisors LLC’s holdings in General Mills were worth $2,252,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of GIS. DnB Asset Management AS bought a new stake in General Mills in the 2nd quarter valued at about $3,830,000. IFM Investors Pty Ltd increased its stake in General Mills by 44.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 25,706 shares of the company’s stock valued at $1,138,000 after buying an additional 7,971 shares during the period. VNBTrust National Association increased its stake in General Mills by 13.0% during the 2nd quarter. VNBTrust National Association now owns 12,200 shares of the company’s stock valued at $540,000 after buying an additional 1,400 shares during the period. Marshwinds Advisory Co. acquired a new position in General Mills during the 2nd quarter valued at about $271,000. Finally, Kempner Capital Management Inc. acquired a new position in General Mills during the 2nd quarter valued at about $1,285,000. Institutional investors own 70.84% of the company’s stock.
Several research firms have commented on GIS. Credit Suisse Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, September 13th. Sanford C. Bernstein reissued a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. UBS Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Wednesday, September 19th. Piper Jaffray Companies set a $45.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, July 12th. Finally, ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and a consensus target price of $50.29.
Shares of GIS opened at $42.97 on Tuesday. The company has a market capitalization of $25.14 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.77 and a beta of 0.60. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.35 and a current ratio of 0.58. General Mills, Inc. has a 12-month low of $41.01 and a 12-month high of $60.69.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.12 billion. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were paid a $0.49 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.56%. General Mills’s dividend payout ratio is currently 63.02%.
In other General Mills news, Director Maria Sastre acquired 1,000 shares of the stock in a transaction dated Monday, August 20th. The shares were bought at an average price of $47.37 per share, with a total value of $47,370.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $47,370. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.59% of the company’s stock.
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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.
Further Reading: Book Value Per Share – BVPS
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