Quinn Opportunity Partners LLC Acquires 9,020 Shares of General Mills, Inc. (GIS)
Quinn Opportunity Partners LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 51.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,420 shares of the company’s stock after buying an additional 9,020 shares during the period. Quinn Opportunity Partners LLC’s holdings in General Mills were worth $1,464,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GIS. Lenox Wealth Advisors Inc. boosted its position in General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares during the period. Winslow Evans & Crocker Inc. boosted its position in General Mills by 2.9% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after buying an additional 69 shares during the period. Hanson McClain Inc. boosted its position in General Mills by 1.5% during the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the period. IHT Wealth Management LLC boosted its position in General Mills by 33.4% during the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after buying an additional 627 shares during the period. Finally, Assetmark Inc. boosted its position in General Mills by 11.2% during the 1st quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 70.45% of the company’s stock.
Shares of General Mills, Inc. (NYSE GIS) opened at 52.03 on Friday. The company has a market cap of $29.57 billion, a price-to-earnings ratio of 18.64 and a beta of 0.61. General Mills, Inc. has a 1-year low of $50.13 and a 1-year high of $64.06. The stock has a 50 day moving average of $52.91 and a 200 day moving average of $55.50.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. Analysts predict that General Mills, Inc. will post $3.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, October 6th. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
Several research firms recently commented on GIS. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $58.00 target price on shares of General Mills in a research report on Tuesday, September 19th. Royal Bank Of Canada cut their target price on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 29th. Finally, Stifel Nicolaus cut their target price on shares of General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, June 29th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus price target of $56.64.
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General Mills Profile
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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