General Mills, Inc. (GIS) Stake Raised by Jacobi Capital Management LLC

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Jacobi Capital Management LLC grew its position in General Mills, Inc. (NYSE:GIS) by 40.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,091 shares of the company’s stock after acquiring an additional 1,174 shares during the quarter. Jacobi Capital Management LLC’s holdings in General Mills were worth $176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in General Mills by 23.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,721 shares of the company’s stock worth $253,000 after buying an additional 1,100 shares during the period. LexAurum Advisors LLC increased its position in General Mills by 15.5% during the 2nd quarter. LexAurum Advisors LLC now owns 8,236 shares of the company’s stock valued at $365,000 after purchasing an additional 1,105 shares during the period. InterOcean Capital LLC increased its position in General Mills by 6.5% during the 3rd quarter. InterOcean Capital LLC now owns 18,624 shares of the company’s stock valued at $799,000 after purchasing an additional 1,136 shares during the period. Stokes & Hubbell Capital Management LLC increased its position in General Mills by 10.6% during the 3rd quarter. Stokes & Hubbell Capital Management LLC now owns 11,968 shares of the company’s stock valued at $536,000 after purchasing an additional 1,145 shares during the period. Finally, Truvestments Capital LLC increased its position in General Mills by 5.3% during the 3rd quarter. Truvestments Capital LLC now owns 24,039 shares of the company’s stock valued at $1,032,000 after purchasing an additional 1,214 shares during the period. 68.67% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on GIS. Bank of America cut their target price on shares of General Mills from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Morgan Stanley cut their target price on shares of General Mills from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, September 20th. Credit Suisse Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Finally, UBS Group set a $46.00 target price on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.06.

NYSE:GIS opened at $38.48 on Friday. General Mills, Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $60.69. The stock has a market capitalization of $23.69 billion, a PE ratio of 12.37, a PEG ratio of 1.67 and a beta of 0.60. The company has a current ratio of 0.58, a quick ratio of 0.35 and a debt-to-equity ratio of 1.93.

General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the business earned $0.71 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Wednesday, January 9th. General Mills’s dividend payout ratio is currently 63.02%.

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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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