Biondo Investment Advisors LLC Sells 136 Shares of General Mills Inc. (GIS)
Biondo Investment Advisors LLC decreased its position in shares of General Mills Inc. (NYSE:GIS) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,023 shares of the company’s stock after selling 136 shares during the period. Biondo Investment Advisors LLC’s holdings in General Mills were worth $3,643,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GIS. Vanguard Group Inc. increased its stake in shares of General Mills by 2.8% in the second quarter. Vanguard Group Inc. now owns 42,294,810 shares of the company’s stock worth $3,016,466,000 after buying an additional 1,144,897 shares during the period. BlackRock Fund Advisors increased its stake in shares of General Mills by 8.9% in the second quarter. BlackRock Fund Advisors now owns 14,309,161 shares of the company’s stock worth $1,020,529,000 after buying an additional 1,167,197 shares during the period. BlackRock Group LTD increased its stake in shares of General Mills by 1.6% in the second quarter. BlackRock Group LTD now owns 7,035,387 shares of the company’s stock worth $501,764,000 after buying an additional 111,295 shares during the period. Capital Research Global Investors increased its stake in shares of General Mills by 0.3% in the second quarter. Capital Research Global Investors now owns 6,938,055 shares of the company’s stock worth $494,822,000 after buying an additional 18,055 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of General Mills by 34.5% in the second quarter. American Century Companies Inc. now owns 6,546,046 shares of the company’s stock worth $466,864,000 after buying an additional 1,679,776 shares during the period. Institutional investors and hedge funds own 67.98% of the company’s stock.
Shares of General Mills Inc. (NYSE:GIS) traded down 0.35% during mid-day trading on Monday, hitting $62.08. The stock had a trading volume of 2,206,324 shares. General Mills Inc. has a 12 month low of $53.53 and a 12 month high of $72.95. The firm has a market cap of $36.71 billion, a PE ratio of 22.57 and a beta of 0.55. The stock’s 50-day moving average is $61.61 and its 200 day moving average is $66.08.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. Equities research analysts predict that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Wednesday, October 5th. General Mills’s payout ratio is 69.82%.
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GIS has been the topic of a number of analyst reports. Credit Suisse Group AG reaffirmed a “hold” rating and set a $68.00 target price on shares of General Mills in a research note on Thursday, September 22nd. Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Tuesday, November 22nd. set a $65.00 target price on General Mills and gave the company a “sell” rating in a research note on Thursday, September 22nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $67.00 target price on shares of General Mills in a research note on Wednesday, September 14th. Finally, Consumer Edge cut General Mills from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.56.
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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