Welch Group LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 598,506 shares of the company’s stock after acquiring an additional 14,000 shares during the quarter. General Mills comprises 2.3% of Welch Group LLC’s investment portfolio, making the stock its 25th largest position. Welch Group LLC owned about 0.10% of General Mills worth $38,298,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FWL Investment Management LLC bought a new stake in General Mills during the fourth quarter valued at approximately $25,000. Intrepid Capital Management Inc. bought a new stake in shares of General Mills during the 2nd quarter worth $28,000. Almanack Investment Partners LLC. bought a new position in shares of General Mills during the 3rd quarter valued at about $28,000. Impact Partnership Wealth LLC purchased a new position in shares of General Mills during the 2nd quarter valued at about $30,000. Finally, RFP Financial Group LLC grew its position in General Mills by 573.8% during the second quarter. RFP Financial Group LLC now owns 411 shares of the company’s stock valued at $32,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 75.31% of the company’s stock.
General Mills Stock Down 0.2 %
GIS stock traded down $0.12 during midday trading on Wednesday, hitting $64.58. The stock had a trading volume of 899,546 shares, compared to its average volume of 3,838,269. The business has a 50-day moving average of $64.94 and a two-hundred day moving average of $69.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.36. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.25. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89.
General Mills (NYSE:GIS – Get Free Report) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. General Mills had a net margin of 12.06% and a return on equity of 25.44%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the business earned $1.10 EPS. General Mills’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.
General Mills Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.65%. General Mills’s payout ratio is 57.42%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on GIS shares. BNP Paribas cut shares of General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Tuesday, September 5th. Stifel Nicolaus reduced their price target on General Mills from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, December 21st. HSBC assumed coverage on General Mills in a research report on Friday, September 22nd. They issued a “hold” rating and a $74.00 price objective for the company. Wells Fargo & Company cut their target price on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, September 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.00.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.