General Mills, Inc. (GIS) Shares Sold by Rand Wealth LLC
Rand Wealth LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,319 shares of the company’s stock after selling 3,800 shares during the quarter. Rand Wealth LLC’s holdings in General Mills were worth $2,190,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. boosted its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after acquiring an additional 69 shares during the last quarter. IHT Wealth Management LLC boosted its stake in General Mills by 33.4% in the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after acquiring an additional 627 shares during the last quarter. Americafirst Capital Management LLC bought a new position in General Mills in the second quarter valued at approximately $158,000. Finally, Lenox Wealth Management Inc. boosted its stake in General Mills by 0.3% in the second quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock valued at $180,000 after acquiring an additional 11 shares during the last quarter. 71.32% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on GIS shares. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Friday, September 15th. BidaskClub raised shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $67.00 price objective on shares of General Mills in a research note on Thursday, September 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 price objective (down from $55.00) on shares of General Mills in a research note on Thursday, September 21st. Finally, Susquehanna Bancshares Inc reaffirmed a “hold” rating and issued a $58.00 price objective on shares of General Mills in a research note on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average price target of $56.60.
Shares of General Mills, Inc. (NYSE:GIS) opened at $53.52 on Wednesday. The company has a market cap of $30,826.68, a PE ratio of 18.02, a P/E/G ratio of 2.02 and a beta of 0.63. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74. General Mills, Inc. has a twelve month low of $49.65 and a twelve month high of $64.06.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm earned $0.78 EPS. General Mills’s revenue for the quarter was down 3.6% compared to the same quarter last year. analysts forecast that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, October 6th. General Mills’s dividend payout ratio (DPR) is 70.25%.
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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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