Belpointe Asset Management LLC Purchases Shares of 3,913 General Mills, Inc. (GIS)
Belpointe Asset Management LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,913 shares of the company’s stock, valued at approximately $203,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC grew its holdings in General Mills by 21.8% in the 2nd quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock valued at $2,968,000 after buying an additional 9,952 shares in the last quarter. Bfsg LLC acquired a new position in shares of General Mills in the 1st quarter valued at $2,843,000. LVW Advisors LLC acquired a new position in shares of General Mills in the 2nd quarter valued at $2,515,000. PVG Asset Management Corp acquired a new position in shares of General Mills in the 1st quarter valued at $6,352,000. Finally, Captrust Financial Advisors acquired a new position in shares of General Mills in the 2nd quarter valued at $693,000. Hedge funds and other institutional investors own 72.62% of the company’s stock.
General Mills, Inc. (GIS) opened at $60.13 on Monday. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $63.73. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $34,520.00, a PE ratio of 22.03, a P/E/G ratio of 2.63 and a beta of 0.66.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.82. The company 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%. General Mills’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. analysts forecast that General Mills, Inc. will post 3.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio is currently 71.79%.
Several equities analysts have recently commented on GIS shares. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Jefferies Group started coverage on General Mills in a research note on Friday, October 20th. They issued a “hold” rating and a $56.00 price target on the stock. Susquehanna Bancshares set a $57.00 price target on General Mills and gave the company a “hold” rating in a research note on Wednesday, December 13th. Societe Generale raised General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Royal Bank of Canada decreased their price target on General Mills from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. Three equities 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 currently has a consensus rating of “Hold” and a consensus target price of $57.52.
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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