DT Investment Partners LLC raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,183 shares of the company’s stock after purchasing an additional 6,977 shares during the period. DT Investment Partners LLC’s holdings in General Mills were worth $3,055,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in shares of General Mills during the second quarter valued at approximately $115,000. Adviser Investments LLC grew its holdings in shares of General Mills by 158.7% during the second quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock valued at $115,000 after purchasing an additional 1,600 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in shares of General Mills during the second quarter valued at approximately $118,000. Kiley Juergens Wealth Management LLC grew its holdings in shares of General Mills by 108.2% during the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock valued at $129,000 after purchasing an additional 1,568 shares during the last quarter. Finally, ELM Advisors LLC bought a new position in shares of General Mills during the third quarter valued at approximately $137,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.
GIS stock traded down $0.38 on Friday, reaching $44.09. The company’s stock had a trading volume of 620,733 shares, compared to its average volume of 5,138,951. General Mills, Inc. has a 52 week low of $41.01 and a 52 week high of $60.69. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.58 and a quick ratio of 0.35.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a $0.49 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.45%. General Mills’s payout ratio is 63.02%.
A number of research analysts recently commented on GIS shares. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th. Royal Bank of Canada restated a “sector perform” rating and set a $52.00 price objective on shares of General Mills in a research note on Monday, September 17th. Sanford C. Bernstein restated a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. Credit Suisse Group set a $46.00 price target on shares of General Mills and gave the stock a “hold” rating in a research report on Wednesday, September 19th. Finally, Piper Jaffray Companies set a $47.00 price target on shares of General Mills and gave the stock a “hold” rating in a research report on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. General Mills presently has a consensus rating of “Hold” and a consensus price target of $50.29.
In other news, Director Heidi Miller sold 13,204 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $45.77, for a total value of $604,347.08. Following the completion of the transaction, the director now directly owns 82,295 shares in the company, valued at $3,766,642.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maria Sastre acquired 1,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was bought at an average price of $47.37 per share, with a total value of $47,370.00. Following the completion of the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $47,370. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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