Beech Hill Advisors Inc. purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 62,100 shares of the company’s stock, valued at approximately $3,326,000.
A number of other large investors have also recently made changes to their positions in the business. California State Teachers Retirement System raised its position in General Mills by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 1,020,468 shares of the company’s stock worth $56,248,000 after purchasing an additional 2,895 shares during the period. MAI Capital Management grew its stake in General Mills by 4.8% during the third quarter. MAI Capital Management now owns 6,800 shares of the company’s stock worth $375,000 after buying an additional 309 shares during the period. Boenning & Scattergood Inc. purchased a new stake in General Mills during the third quarter worth approximately $204,000. National Pension Service grew its stake in General Mills by 4.5% during the third quarter. National Pension Service now owns 808,234 shares of the company’s stock worth $44,550,000 after buying an additional 34,633 shares during the period. Finally, Virtu Financial LLC purchased a new stake in General Mills during the third quarter worth approximately $729,000. 69.56% of the stock is owned by hedge funds and other institutional investors.
Shares of GIS stock traded down $0.06 on Friday, hitting $53.66. The stock had a trading volume of 26,649 shares, compared to its average volume of 3,829,553. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 2.23 and a beta of 0.72. The stock’s 50 day moving average is $52.83 and its 200-day moving average is $53.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.37 and a current ratio of 0.61. General Mills, Inc. has a 52-week low of $42.20 and a 52-week high of $56.40.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.65%. General Mills’s dividend payout ratio (DPR) is 60.87%.
Several research firms have issued reports on GIS. UBS Group boosted their price objective on shares of General Mills from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Evercore ISI initiated coverage on shares of General Mills in a research note on Friday, December 20th. They issued a “hold” rating and a $56.00 target price for the company. BMO Capital Markets upped their target price on shares of General Mills from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley upped their target price on shares of General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus upped their target price on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $55.50.
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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