Aviance Capital Management LLC raised its position in General Mills Inc. (NYSE:GIS) by 36.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,419 shares of the company’s stock after buying an additional 52,915 shares during the period. Aviance Capital Management LLC’s holdings in General Mills were worth $14,080,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. increased its position in General Mills by 0.7% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,778 shares of the company’s stock worth $127,000 after buying an additional 13 shares during the last quarter. BlueMountain Capital Management LLC increased its position in General Mills by 15.6% in the first quarter. BlueMountain Capital Management LLC now owns 2,277 shares of the company’s stock worth $144,000 after buying an additional 308 shares during the last quarter. Stuart Chaussee & Associates Inc. increased its position in General Mills by 54.9% in the second quarter. Stuart Chaussee & Associates Inc. now owns 2,383 shares of the company’s stock worth $171,000 after buying an additional 845 shares during the last quarter. WESPAC Advisors LLC acquired a new position in General Mills during the second quarter worth approximately $211,000. Finally, Ronna Sue Cohen acquired a new position in General Mills during the second quarter worth approximately $215,000. 69.13% of the stock is owned by institutional investors.
Shares of General Mills Inc. (NYSE:GIS) traded up 0.25% on Wednesday, reaching $64.08. 2,474,918 shares of the company were exchanged. General Mills Inc. has a 12 month low of $53.53 and a 12 month high of $72.95. The company has a market cap of $37.90 billion, a price-to-earnings ratio of 23.30 and a beta of 0.38. The company’s 50-day moving average price is $68.40 and its 200 day moving average price is $66.21.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The company earned $3.91 billion during the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, equities research analysts expect that General Mills Inc. will post $3.10 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 3.00%. General Mills’s payout ratio is 69.82%.
A number of research firms have recently commented on GIS. Morgan Stanley reaffirmed a “hold” rating on shares of General Mills in a report on Sunday, July 17th. Royal Bank Of Canada lifted their price target on shares of General Mills from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, June 30th. Citigroup Inc. reissued a “buy” rating and set a $76.00 price target (up from $72.00) on shares of General Mills in a report on Wednesday, June 29th. Credit Agricole SA set a $65.00 price target on shares of General Mills and gave the company a “sell” rating in a report on Thursday, September 22nd. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $68.00 price target on shares of General Mills in a report on Thursday, September 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $68.22.
In other General Mills news, VP Jerald A. Young sold 27,890 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $72.03, for a total value of $2,008,916.70. Following the completion of the sale, the vice president now owns 86,271 shares in the company, valued at $6,214,100.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the completion of the sale, the director now owns 79,954 shares of the company’s stock, valued at approximately $5,685,528.94. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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