Janney Montgomery Scott LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,839 shares of the company’s stock after buying an additional 25,507 shares during the period. Janney Montgomery Scott LLC’s holdings in General Mills were worth $13,294,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in GIS. Lenox Wealth Management Inc. lifted its holdings in General Mills by 0.3% during the second quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock worth $180,000 after acquiring an additional 11 shares during the period. Lenox Wealth Advisors Inc. lifted its holdings in General Mills by 0.8% during the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares during the period. LLBH Private Wealth Management LLC lifted its holdings in General Mills by 0.6% during the second quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock worth $241,000 after acquiring an additional 25 shares during the period. Davis R M Inc. lifted its holdings in General Mills by 0.8% during the second quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock worth $233,000 after acquiring an additional 34 shares during the period. Finally, CFO4Life Group LLC lifted its holdings in General Mills by 1.3% during the second quarter. CFO4Life Group LLC now owns 3,827 shares of the company’s stock worth $212,000 after acquiring an additional 48 shares during the period. 72.62% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on GIS. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a report on Friday. Credit Suisse Group set a $60.00 price target on General Mills and gave the stock a “hold” rating in a report on Thursday. Wells Fargo & Co set a $65.00 target price on General Mills and gave the company a “buy” rating in a research note on Thursday. Susquehanna Bancshares set a $60.00 target price on General Mills and gave the company a “hold” rating in a research note on Tuesday, December 19th. Finally, Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.52.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. analysts anticipate that General Mills, Inc. will post 3.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 71.79%.
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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