107,643 Shares in General Mills, Inc. (GIS) Acquired by PVG Asset Management Corp
PVG Asset Management Corp purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 107,643 shares of the company’s stock, valued at approximately $6,352,000. General Mills comprises approximately 2.0% of PVG Asset Management Corp’s investment portfolio, making the stock its 12th largest position.
Several other institutional investors have also added to or reduced their stakes in the stock. Hanson McClain Inc. increased its stake in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the last quarter. Assetmark Inc. increased its stake in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of General Mills during the first quarter worth about $179,000. Fort Pitt Capital Group LLC purchased a new stake in shares of General Mills during the first quarter worth about $210,000. Finally, Vigilant Capital Management LLC increased its stake in shares of General Mills by 5.7% in the first quarter. Vigilant Capital Management LLC now owns 3,718 shares of the company’s stock worth $219,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.
Shares of General Mills, Inc. (NYSE GIS) traded down 0.63% on Wednesday, reaching $53.59. 1,043,252 shares of the company were exchanged. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $71.68. The firm has a market capitalization of $30.93 billion, a PE ratio of 19.35 and a beta of 0.61. The stock’s 50-day moving average is $55.47 and its 200 day moving average is $57.57.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, analysts forecast that General Mills, Inc. will post $3.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.49 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.63%. General Mills’s payout ratio is 70.76%.
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A number of brokerages have issued reports on GIS. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. UBS AG reiterated a “neutral” rating and set a $61.00 price objective (down from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Piper Jaffray Companies reiterated an “underweight” rating and set a $56.00 price objective (down from $57.00) on shares of General Mills in a research note on Monday, June 19th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $58.00 target price (down previously from $59.00) on shares of General Mills in a report on Friday, June 30th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $67.00 target price on shares of General Mills in a report on Thursday, June 15th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. General Mills presently has an average rating of “Hold” and a consensus price target of $59.93.
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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