Riverhead Capital Management LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 42.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 70,535 shares of the company’s stock after selling 51,330 shares during the period. Riverhead Capital Management LLC’s holdings in General Mills were worth $3,027,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GIS. Acadian Asset Management LLC acquired a new position in General Mills during the second quarter valued at approximately $115,000. CSat Investment Advisory L.P. acquired a new position in General Mills during the second quarter valued at approximately $118,000. Kiley Juergens Wealth Management LLC grew its holdings in General Mills by 108.2% during the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock valued at $129,000 after purchasing an additional 1,568 shares during the last quarter. ELM Advisors LLC acquired a new position in General Mills during the third quarter valued at approximately $137,000. Finally, Selective Wealth Management acquired a new position in General Mills during the third quarter valued at approximately $139,000. Institutional investors own 68.67% of the company’s stock.
Several equities analysts have commented on GIS shares. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $52.00 price target on shares of General Mills in a report on Monday, September 17th. Credit Suisse Group set a $46.00 price target on General Mills and gave the company a “hold” rating in a report on Wednesday, September 19th. Piper Jaffray Companies set a $47.00 price target on General Mills and gave the company a “hold” rating in a report on Wednesday, September 19th. Finally, Bank of America reiterated a “neutral” rating and set a $45.00 price target (down previously from $49.00) on shares of General Mills in a report on Friday. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and an average target price of $50.06.
Shares of General Mills stock opened at $38.48 on Friday. The firm has a market capitalization of $23.69 billion, a PE ratio of 12.37, a P/E/G ratio of 1.67 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 1 year low of $38.17 and a 1 year 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 consensus estimate of $0.64 by $0.07. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a net margin of 13.19% and a return on equity of 31.84%. General Mills’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 5.09%. General Mills’s payout ratio is 63.02%.
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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.
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