Fairscale Capital LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Fairscale Capital LLC purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) in the second quarter, according to its most recent filing with the SEC. The firm purchased 669 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aveo Capital Partners LLC acquired a new stake in shares of General Mills in the fourth quarter worth approximately $213,000. Clearbridge Investments LLC raised its stake in General Mills by 45.3% during the fourth quarter. Clearbridge Investments LLC now owns 20,055 shares of the company’s stock valued at $1,306,000 after buying an additional 6,255 shares in the last quarter. SageView Advisory Group LLC lifted its stake in General Mills by 24.0% during the fourth quarter. SageView Advisory Group LLC now owns 15,615 shares of the company’s stock worth $1,020,000 after purchasing an additional 3,020 shares during the last quarter. TCW Group Inc. grew its position in shares of General Mills by 96.8% during the 4th quarter. TCW Group Inc. now owns 24,413 shares of the company’s stock valued at $1,589,000 after buying an additional 12,005 shares during the last quarter. Finally, Congress Wealth Management LLC DE raised its position in shares of General Mills by 22.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 3,863 shares of the company’s stock worth $252,000 after purchasing an additional 710 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

General Mills stock opened at $74.51 on Monday. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The stock has a fifty day moving average price of $69.92 and a two-hundred day moving average price of $68.57. The firm has a market capitalization of $41.59 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. As a group, analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.22%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GIS shares. TD Cowen increased their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday. Barclays lifted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday. Stifel Nicolaus raised their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.73.

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.