Enterprise Financial Services Corp lowered its position in General Mills Inc. (NYSE:GIS) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 14,112 shares of the company’s stock after selling 171 shares during the period. Enterprise Financial Services Corp’s holdings in General Mills were worth $1,006,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of General Mills by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 48,479 shares of the company’s stock worth $3,457,000 after buying an additional 507 shares during the period. Henderson Group PLC increased its stake in shares of General Mills by 3.7% in the second quarter. Henderson Group PLC now owns 76,561 shares of the company’s stock worth $5,461,000 after buying an additional 2,736 shares during the period. GW Henssler & Associates Ltd. increased its stake in shares of General Mills by 4.5% in the second quarter. GW Henssler & Associates Ltd. now owns 38,493 shares of the company’s stock worth $2,745,000 after buying an additional 1,673 shares during the period. SL Advisors LLC purchased a new stake in shares of General Mills during the second quarter worth $1,161,000. Finally, Concert Wealth Management Inc. increased its stake in shares of General Mills by 7.1% in the second quarter. Concert Wealth Management Inc. now owns 23,279 shares of the company’s stock worth $1,659,000 after buying an additional 1,548 shares during the period. 70.07% of the stock is owned by institutional investors.
General Mills Inc. (NYSE:GIS) traded up 0.23% during midday trading on Tuesday, reaching $61.91. 5,041,271 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $65.25 and a 200 day moving average price of $66.28. General Mills Inc. has a 12-month low of $53.53 and a 12-month high of $72.95. The company 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 announced its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The business earned $3.91 billion during the quarter. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts expect that General Mills Inc. will post $3.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 3.10%. General Mills’s payout ratio is presently 69.82%.
A number of brokerages have recently weighed in on GIS. S&P Equity Research reaffirmed a “buy” rating and set a $70.00 price target on shares of General Mills in a report on Tuesday, September 27th. RBC Capital Markets reaffirmed an “outperform” rating and set a $73.00 price target on shares of General Mills in a report on Friday, September 23rd. Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price target on shares of General Mills in a report on Friday, September 23rd. Credit Agricole SA set a $65.00 price target on shares of General Mills and gave the stock a “sell” rating in a report on Thursday, September 22nd. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. 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 stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.22.
In other 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 value of $2,355,307.50. Following the completion of the sale, the chief operating officer now directly owns 133,106 shares in the company, valued at approximately $9,457,181.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John R. Church sold 99,373 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $71.17, for a total transaction of $7,072,376.41. Following the completion of the sale, the insider now owns 108,311 shares of the company’s stock, valued at $7,708,493.87. The disclosure for this sale can be found here. Company 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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