Osborne Partners Capital Management LLC Raises Stake in General Mills, Inc. (GIS)
Osborne Partners Capital Management LLC increased its stake in General Mills, Inc. (NYSE:GIS) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 4,706 shares of the company’s stock after buying an additional 153 shares during the period. Osborne Partners Capital Management LLC’s holdings in General Mills were worth $261,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First National Bank of Omaha raised 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 during the period. Alpha Windward LLC raised 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 during the period. Hays Advisory LLC raised 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 during the period. Atria Investments LLC raised 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 during the period. Finally, Integrated Wealth Management raised its position in shares of General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock valued at $519,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 71.46% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) traded down 0.0268% during mid-day trading on Tuesday, reaching $57.3846. 1,006,147 shares of the company traded hands. The stock has a market capitalization of $33.12 billion, a PE ratio of 20.7165 and a beta of 0.61. General Mills, Inc. has a 52 week low of $53.24 and a 52 week high of $71.96. The firm has a 50 day moving average of $55.05 and a 200-day moving average of $57.85.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 39.09% and a net margin of 10.40%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.41%. 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 payout ratio is 70.76%.
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A number of analysts have recently weighed in on the stock. Royal Bank Of Canada set a $65.00 target price on shares of General Mills and gave the stock a “hold” rating in a research report on Monday, April 24th. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price on the stock in a research report on Monday, May 1st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $56.00 target price (down from $65.00) on shares of General Mills in a research report on Friday, May 19th. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, Piper Jaffray Companies assumed coverage on shares of General Mills in a research report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus 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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