Greatmark Investment Partners Inc. continued to hold its position in shares of General Mills Inc. (NYSE:GIS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,136 shares of the company’s stock at the end of the second quarter. Greatmark Investment Partners Inc.’s holdings in General Mills were worth $1,793,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Accredited Investors Inc. boosted its position in shares of General Mills by 3.4% in the first quarter. Accredited Investors Inc. now owns 137,572 shares of the company’s stock valued at $8,715,000 after buying an additional 4,473 shares in the last quarter. State Street Corp boosted its position in shares of General Mills by 2.1% in the first quarter. State Street Corp now owns 36,502,697 shares of the company’s stock valued at $2,312,451,000 after buying an additional 736,454 shares in the last quarter. Kings Point Capital Management boosted its position in shares of General Mills by 4.1% in the first quarter. Kings Point Capital Management now owns 52,592 shares of the company’s stock valued at $3,332,000 after buying an additional 2,087 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of General Mills during the first quarter valued at about $1,081,000. Finally, BB&T Securities LLC boosted its position in shares of General Mills by 147.5% in the first quarter. BB&T Securities LLC now owns 370,647 shares of the company’s stock valued at $23,480,000 after buying an additional 220,915 shares in the last quarter. Institutional investors own 70.07% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded up 0.23% on Tuesday, reaching $61.91. 5,041,267 shares of the company’s stock traded hands. General Mills Inc. has a 12-month low of $53.53 and a 12-month high of $72.95. The stock has a 50 day moving average price of $65.25 and a 200 day moving average price of $66.28. The stock has a market cap of $36.61 billion, a price-to-earnings ratio of 22.51 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. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The firm had revenue of $3.91 billion for the quarter. During the same period in the previous year, the firm earned $0.79 EPS. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Analysts forecast that General Mills Inc. will post $3.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, October 5th. General Mills’s payout ratio is currently 69.82%.
Several equities analysts recently issued reports on the stock. Goldman Sachs Group Inc. reiterated a “sell” rating and set a $61.00 price target (up previously from $60.00) on shares of General Mills in a research report on Friday, July 15th. Citigroup Inc. restated a “buy” rating and issued a $83.00 price objective (up previously from $76.00) on shares of General Mills in a report on Friday, July 15th. Morgan Stanley restated a “hold” rating on shares of General Mills in a report on Sunday, July 17th. Credit Suisse Group AG restated a “hold” rating on shares of General Mills in a report on Thursday, July 14th. Finally, Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Tuesday, July 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.22.
In other General Mills news, COO Jeffrey L. Harmening sold 33,150 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $71.05, for a total transaction of $2,355,307.50. Following the sale, the chief operating officer now owns 133,106 shares of the company’s stock, valued at approximately $9,457,181.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $71.11, for a total transaction of $711,100.00. Following the sale, the director now directly owns 79,954 shares in the company, valued at approximately $5,685,528.94. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
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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