Wulff Hansen & CO. Boosts Stake in General Mills, Inc. (NYSE:GIS)

Wulff Hansen & CO. boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 6,140.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 945,421 shares of the company’s stock after acquiring an additional 930,271 shares during the period. Wulff Hansen & CO. owned 0.17% of General Mills worth $59,807,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GIS. Rise Advisors LLC raised its stake in General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares during the period. RFP Financial Group LLC lifted its holdings in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Perkins Coie Trust Co grew its position in General Mills by 769.2% in the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares during the period. Finally, GoalVest Advisory LLC increased its stake in General Mills by 65.5% during the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Up 1.2 %

Shares of NYSE GIS opened at $74.63 on Tuesday. The firm has a 50-day moving average price of $68.97 and a 200 day moving average price of $68.28. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10.

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

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.22%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is 55.68%.

Analysts Set New Price Targets

GIS has been the topic of several research analyst reports. Mizuho reduced their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wells Fargo & Company boosted their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Finally, Bank of America raised their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.60.

General Mills Company Profile

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.