Monument Capital Management Buys New Position in General Mills, Inc. (GIS)
Monument Capital Management bought a new position in General Mills, Inc. (NYSE:GIS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,965 shares of the company’s stock, valued at approximately $1,658,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cable Hill Partners LLC raised its stake in shares of General Mills by 274.5% during 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 raised its stake in shares of General Mills by 322.7% during 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 raised its stake in shares of General Mills by 127.3% during 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. Spectrum Management Group Inc. bought a new stake in shares of General Mills during the third quarter worth approximately $135,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of General Mills during the second quarter worth approximately $158,000. 72.84% of the stock is owned by institutional investors.
GIS has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Jefferies Group initiated coverage on shares of General Mills in a research note on Friday, October 20th. They set a “hold” rating and a $56.00 price target for the company. Royal Bank of Canada set a $58.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Monday, October 23rd. Wells Fargo & Co raised shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research note on Monday, December 18th. Finally, Societe Generale raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $58.28.
General Mills, Inc. (GIS) opened at $54.65 on Thursday. The stock has a market cap of $31,741.26, a P/E ratio of 18.72, a P/E/G ratio of 2.46 and a beta of 0.61. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. General Mills, Inc. has a 1-year low of $49.65 and a 1-year high of $63.73.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.82. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. equities analysts forecast that General Mills, Inc. will post 3.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Tuesday, January 9th. General Mills’s dividend payout ratio is currently 71.79%.
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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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