Penobscot Investment Management Company Inc. Acquires 9,520 Shares of General Mills, Inc. (NYSE:GIS)

Penobscot Investment Management Company Inc. increased its holdings in General Mills, Inc. (NYSE:GIS) by 79.7% during the 2nd quarter, Holdings Channel reports. The firm owned 21,461 shares of the company’s stock after buying an additional 9,520 shares during the period. Penobscot Investment Management Company Inc.’s holdings in General Mills were worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its position in shares of General Mills by 5.2% in the first quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the company’s stock worth $212,000 after acquiring an additional 200 shares during the last quarter. Marietta Investment Partners LLC grew its position in General Mills by 3.3% during the 1st quarter. Marietta Investment Partners LLC now owns 6,200 shares of the company’s stock worth $321,000 after acquiring an additional 200 shares during the last quarter. Adirondack Trust Co. grew its position in General Mills by 6.4% during the 1st quarter. Adirondack Trust Co. now owns 3,320 shares of the company’s stock worth $171,000 after acquiring an additional 200 shares during the last quarter. Wealth Alliance Advisory Group LLC grew its position in General Mills by 3.8% during the 1st quarter. Wealth Alliance Advisory Group LLC now owns 5,396 shares of the company’s stock worth $276,000 after acquiring an additional 200 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in General Mills by 2.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,270 shares of the company’s stock worth $434,000 after acquiring an additional 200 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors.

NYSE GIS traded up $0.78 during trading hours on Friday, reaching $55.11. 181,255 shares of the stock traded hands, compared to its average volume of 3,270,371. The stock has a 50 day simple moving average of $53.45 and a two-hundred day simple moving average of $50.69. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $54.74. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. The company has a market cap of $32.82 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.



General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that General Mills, Inc. will post 3.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.56%. General Mills’s payout ratio is 60.87%.

GIS has been the topic of a number of research reports. UBS Group boosted their price objective on General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Goldman Sachs Group lowered General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price objective for the company. in a report on Tuesday, May 28th. Bank of America reissued a “neutral” rating and set a $49.00 price objective on shares of General Mills in a report on Friday, May 17th. Evercore ISI began coverage on General Mills in a report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 price objective for the company. Finally, Edward Jones raised General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.66.

General Mills Company 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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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