Capstone Asset Management Co. Buys 10,972 Shares of General Mills Inc. (GIS)
Capstone Asset Management Co. increased its stake in shares of General Mills Inc. (NYSE:GIS) by 4.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 239,417 shares of the company’s stock after buying an additional 10,972 shares during the period. Capstone Asset Management Co.’s holdings in General Mills were worth $15,294,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Hallmark Capital Management Inc. acquired a new stake in General Mills during the second quarter valued at about $103,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in General Mills during the second quarter valued at about $107,000. Brick & Kyle Associates boosted its stake in General Mills by 6.7% in the second quarter. Brick & Kyle Associates now owns 1,592 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the period. Lenox Wealth Advisors Inc. boosted its stake in General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares during the period. Finally, Advisory Services Network LLC boosted its stake in General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock valued at $127,000 after buying an additional 48 shares during the period. 67.98% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills Inc. (NYSE:GIS) traded down 0.16% during mid-day trading on Monday, reaching $62.20. The company’s stock had a trading volume of 1,508,294 shares. The firm has a 50-day moving average of $61.61 and a 200-day moving average of $66.08. The firm has a market capitalization of $36.78 billion, a PE ratio of 22.62 and a beta of 0.55. General Mills Inc. has a 52 week low of $53.53 and a 52 week high of $72.95.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business 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 company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. Equities research analysts forecast that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. General Mills’s payout ratio is 69.82%.
Several research firms have issued reports on GIS. RBC Capital Markets reissued an “outperform” rating and set a $73.00 target price on shares of General Mills in a research note on Friday, September 23rd. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Credit Suisse Group AG restated a “hold” rating and set a $68.00 price target on shares of General Mills in a research report on Thursday, September 22nd. Consumer Edge lowered General Mills from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 20th. Finally, Barclays PLC restated an “equal weight” rating and set a $66.00 price target on shares of General Mills in a research report on Friday, September 23rd. Three equities research 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’s stock. The company presently has an average rating of “Hold” and an average target price 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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