Sunbelt Securities Inc. Increases Stock Position in General Mills, Inc. (NYSE:GIS)
Sunbelt Securities Inc. raised its position in shares of General Mills, Inc. (NYSE:GIS) by 8.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 29,040 shares of the company’s stock after purchasing an additional 2,230 shares during the quarter. Sunbelt Securities Inc.’s holdings in General Mills were worth $1,525,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Advisory Services Network LLC raised its holdings in General Mills by 128.2% in the 2nd quarter. Advisory Services Network LLC now owns 49,256 shares of the company’s stock worth $2,586,000 after purchasing an additional 27,667 shares in the last quarter. Coastal Investment Advisors Inc. raised its holdings in General Mills by 6.5% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 8,246 shares of the company’s stock worth $436,000 after purchasing an additional 502 shares in the last quarter. Cape Cod Five Cents Savings Bank raised its holdings in General Mills by 11.6% in the 2nd quarter. Cape Cod Five Cents Savings Bank now owns 11,088 shares of the company’s stock worth $582,000 after purchasing an additional 1,150 shares in the last quarter. Willingdon Wealth Management raised its holdings in General Mills by 1.0% in the 2nd quarter. Willingdon Wealth Management now owns 66,041 shares of the company’s stock worth $3,468,000 after purchasing an additional 660 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in General Mills by 1.2% in the 2nd quarter. Keybank National Association OH now owns 184,668 shares of the company’s stock worth $9,699,000 after purchasing an additional 2,139 shares in the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.
Shares of General Mills stock traded up $0.04 during trading on Wednesday, hitting $54.31. The company’s stock had a trading volume of 856,008 shares, compared to its average volume of 4,365,686. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. The business’s fifty day moving average price is $53.38. The firm has a market capitalization of $32.76 billion, a P/E ratio of 16.87, a PEG ratio of 2.29 and a beta of 0.77. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $54.74.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.61%. General Mills’s payout ratio is 60.87%.
GIS has been the subject of several research reports. Morgan Stanley upped their price objective on shares of General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, June 27th. Bank of America restated a “neutral” rating and issued a $49.00 price objective on shares of General Mills in a report on Friday, May 17th. Evercore ISI initiated coverage on shares of General Mills in a report on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 price objective for the company. UBS Group upped their price objective on shares of General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Finally, Zacks Investment Research restated a “strong-buy” rating on shares of General Mills in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. General Mills presently has a consensus rating of “Hold” and a consensus price target of $52.66.
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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