Hartline Investment Corp maintained its stake in shares of General Mills, Inc. (NYSE:GIS) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,460 shares of the company’s stock at the end of the first quarter. Hartline Investment Corp’s holdings in General Mills were worth $263,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Lenox Wealth Advisors Inc. raised its stake in shares of General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock valued at $107,000 after buying an additional 14 shares in the last quarter. Cribstone Capital Management LLC raised its position in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock worth $116,000 after buying an additional 1,480 shares during the period. Commonwealth Financial Services LLC raised its position in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock worth $130,000 after buying an additional 2,058 shares during the period. Hanson McClain Inc. raised its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the period. Finally, Assetmark Inc. raised its position in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 71.46% of the company’s stock.
General Mills, Inc. (NYSE GIS) traded up 0.38% on Wednesday, reaching $57.53. 2,785,837 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $55.08 and a 200-day moving average of $57.81. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $71.96. The company has a market cap of $33.20 billion, a P/E ratio of 20.77 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. Equities analysts expect that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date was Thursday, July 6th. This is a boost from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 3.41%. General Mills’s payout ratio is 70.76%.
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A number of equities analysts recently issued reports on the company. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price for the company in a research note on Monday, May 1st. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. UBS AG reaffirmed a “neutral” rating and set a $61.00 price target (down from $63.00) on shares of General Mills in a research report on Wednesday, June 21st. Piper Jaffray Companies reaffirmed an “underweight” rating and set a $56.00 price target (down from $57.00) on shares of General Mills in a research report on Monday, June 19th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $58.00 price target (down from $59.00) on shares of General Mills in a research report on Friday, June 30th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.93.
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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