Smithfield Trust Co. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,967 shares of the company’s stock after selling 52 shares during the period. Smithfield Trust Co.’s holdings in General Mills were worth $782,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in GIS. American Century Companies Inc. increased its stake in shares of General Mills by 34.5% in the second quarter. American Century Companies Inc. now owns 6,546,046 shares of the company’s stock valued at $466,864,000 after buying an additional 1,679,776 shares in the last quarter. Panagora Asset Management Inc. increased its stake in General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares in the last quarter. State Street Corp increased its stake in General Mills by 2.1% in the first quarter. State Street Corp now owns 36,502,697 shares of the company’s stock worth $2,312,451,000 after buying an additional 736,454 shares in the last quarter. BB&T Securities LLC increased its stake in General Mills by 147.5% in the first quarter. BB&T Securities LLC now owns 370,647 shares of the company’s stock worth $23,480,000 after buying an additional 220,915 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in General Mills by 17.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 803,805 shares of the company’s stock worth $57,325,000 after buying an additional 117,614 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (NYSE:GIS) traded down 0.08% during mid-day trading on Monday, hitting $61.73. The stock had a trading volume of 1,723,483 shares. General Mills, Inc. has a 52 week low of $53.53 and a 52 week high of $72.95. The company’s 50 day moving average price is $65.51 and its 200 day moving average price is $66.25. The firm has a market cap of $36.51 billion, a PE ratio of 22.45 and a beta of 0.46.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Analysts anticipate that General Mills, Inc. will post $3.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 3.11%. General Mills’s dividend payout ratio (DPR) is 69.82%.
A number of equities research analysts have recently weighed in on the company. S&P Equity Research reissued a “buy” rating and set a $70.00 target price on shares of General Mills in a report on Tuesday, September 27th. RBC Capital Markets reissued an “outperform” rating and set a $73.00 target price on shares of General Mills in a report on Friday, September 23rd. Barclays PLC reissued an “equal weight” rating and set a $66.00 target price on shares of General Mills in a report on Friday, September 23rd. Credit Agricole SA set a $65.00 target price on General Mills and gave the stock a “sell” rating in a report on Thursday, September 22nd. Finally, Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $68.22.
In other General Mills news, Director Michael D. Rose sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $71.11, for a total value of $711,100.00. Following the sale, the director now owns 79,954 shares of the company’s stock, valued at approximately $5,685,528.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John R. Church sold 99,373 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $71.17, for a total value of $7,072,376.41. Following the completion of the sale, the insider now directly owns 108,311 shares in the company, valued at approximately $7,708,493.87. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
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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