Cetera Investment Advisers reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 19.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,092 shares of the company’s stock after selling 1,705 shares during the quarter. Cetera Investment Advisers’ holdings in General Mills were worth $367,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lenox Wealth Advisors Inc. lifted its position in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares during the last quarter. Cable Hill Partners LLC lifted its position in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after buying an additional 1,647 shares during the last quarter. Grove Bank & Trust lifted its position in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares during the last quarter. Tradewinds Capital Management LLC lifted its position in General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after buying an additional 1,459 shares during the last quarter. Finally, Spectrum Management Group Inc. bought a new stake in General Mills in the third quarter worth $135,000. Hedge funds and other institutional investors own 72.62% of the company’s stock.
GIS has been the subject of a number of analyst reports. Consumer Edge upgraded General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Wells Fargo & Co upgraded General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research report on Monday, December 18th. BMO Capital Markets restated a “market perform” rating and issued a $57.00 price target (down from $60.00) on shares of General Mills in a research report on Thursday, September 21st. Piper Jaffray Companies restated a “sell” rating and issued a $53.00 price target on shares of General Mills in a research report on Thursday, September 21st. Finally, Credit Suisse Group restated a “neutral” rating and issued a $53.00 price target on shares of General Mills in a research report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $57.52.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the consensus estimate of $0.82. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. analysts forecast that General Mills, Inc. will post 3.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.26%. General Mills’s dividend payout ratio is currently 71.79%.
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General Mills Company Profile
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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