General Mills, Inc. (NYSE:GIS) Stake Boosted by Oxbow Advisors LLC
Oxbow Advisors LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 715.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,035 shares of the company’s stock after buying an additional 70,225 shares during the period. Oxbow Advisors LLC’s holdings in General Mills were worth $4,434,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of GIS. First National Bank of Omaha increased its position in shares of General Mills by 7.6% in the first quarter. First National Bank of Omaha now owns 4,200 shares of the company’s stock valued at $248,000 after buying an additional 297 shares in the last quarter. Alpha Windward LLC increased its position in shares of General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock valued at $241,000 after buying an additional 34 shares in the last quarter. Private Bank & Trust Co. increased its position in shares of General Mills by 13.6% in the first quarter. Private Bank & Trust Co. now owns 11,281 shares of the company’s stock valued at $665,000 after buying an additional 1,354 shares in the last quarter. Hays Advisory LLC increased its position in shares of General Mills by 12.1% in the first quarter. Hays Advisory LLC now owns 3,733 shares of the company’s stock valued at $220,000 after buying an additional 404 shares in the last quarter. Finally, Atria Investments LLC increased its position in shares of General Mills by 21.3% in the first quarter. Atria Investments LLC now owns 29,052 shares of the company’s stock valued at $1,714,000 after buying an additional 5,108 shares in the last quarter. 71.46% of the stock is currently owned by institutional investors.
Shares of General Mills, Inc. (GIS) traded up 1.43% during mid-day trading on Monday, reaching $57.40. The company had a trading volume of 1,285,052 shares. The stock has a market capitalization of $33.13 billion, a P/E ratio of 20.72 and a beta of 0.61. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $71.96. The firm’s 50 day moving average is $55.00 and its 200-day moving average is $57.96.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the company earned $0.66 EPS. The company’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio (DPR) is 70.76%.
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Several research analysts have commented on GIS shares. Royal Bank Of Canada set a $65.00 price target on General Mills and gave the stock a “hold” rating in a research report on Monday, April 24th. Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target on the stock in a research report on Monday, May 1st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $56.00 price target (down from $65.00) on shares of General Mills in a research report on Friday, May 19th. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, Piper Jaffray Companies started coverage on General Mills in a research report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 price target on the stock. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. General Mills presently has an average rating of “Hold” and an average target price of $59.93.
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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