McIlrath & Eck LLC trimmed its stake in General Mills, Inc. (NYSE:GIS) by 19.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,423 shares of the company’s stock after selling 338 shares during the quarter. McIlrath & Eck LLC’s holdings in General Mills were worth $78,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC purchased a new position in shares of General Mills during the second quarter valued at $25,000. Ellevest Inc. purchased a new position in shares of General Mills during the second quarter valued at $28,000. Capital International Ltd. CA purchased a new position in shares of General Mills during the second quarter valued at $30,000. Employers Holdings Inc. purchased a new position in shares of General Mills during the second quarter valued at $32,000. Finally, NuWave Investment Management LLC grew its holdings in shares of General Mills by 377.4% during the second quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock valued at $33,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.
In other General Mills news, insider Jonathon Nudi sold 18,951 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $54.52, for a total value of $1,033,208.52. Following the completion of the sale, the insider now owns 81,656 shares of the company’s stock, valued at $4,451,885.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the sale, the insider now directly owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price target on General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Edward Jones upgraded General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. ValuEngine downgraded General Mills from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Credit Suisse Group reiterated a “hold” rating and set a $56.00 price target on shares of General Mills in a report on Thursday, September 12th. Finally, Royal Bank of Canada assumed coverage on General Mills in a report on Thursday, October 17th. They set a “sector perform” rating and a $57.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.82.
GIS traded up $0.52 during trading on Friday, reaching $52.50. 2,629,920 shares of the stock traded hands, compared to its average volume of 4,115,356. The stock has a market cap of $31.18 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $56.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.37. The stock’s 50-day simple moving average is $52.93 and its two-hundred day simple moving average is $52.93.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 27.38% and a net margin of 11.21%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. Research analysts anticipate that General Mills, Inc. will post 3.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.49 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.73%. General Mills’s payout ratio is 60.87%.
General Mills Profile
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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