Oppenheimer & Co. Inc. Has $3 Million Stake in General Mills, Inc. (NYSE:GIS)

Oppenheimer & Co. Inc. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,411 shares of the company’s stock after acquiring an additional 3,270 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in General Mills were worth $2,999,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in General Mills by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after purchasing an additional 539 shares during the last quarter. Aveo Capital Partners LLC bought a new position in General Mills during the 4th quarter worth $213,000. Envestnet Portfolio Solutions Inc. raised its position in General Mills by 14.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,890 shares of the company’s stock worth $775,000 after purchasing an additional 1,459 shares during the last quarter. Fiera Capital Corp bought a new position in General Mills during the 4th quarter worth $495,000. Finally, Brown Advisory Inc. raised its position in General Mills by 4.2% during the 4th quarter. Brown Advisory Inc. now owns 23,449 shares of the company’s stock worth $1,527,000 after purchasing an additional 949 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GIS shares. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. The Goldman Sachs Group initiated coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, June 27th. Mizuho lowered their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Citigroup lowered their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus target price of $70.07.

General Mills Stock Performance

Shares of General Mills stock opened at $73.71 on Monday. General Mills, Inc. has a one year low of $60.33 and a one year high of $75.90. The firm has a market capitalization of $41.03 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 3.86 and a beta of 0.10. The business has a 50-day simple moving average of $68.73 and a 200 day simple moving average of $68.20. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. On average, research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.26%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 55.68%.

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.