Hemenway Trust Co LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,564 shares of the company’s stock after selling 100 shares during the period. Hemenway Trust Co LLC’s holdings in General Mills were worth $1,084,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GIS. Doyle Wealth Management bought a new stake in shares of General Mills during the first quarter valued at $428,000. Cribstone Capital Management LLC increased its stake in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the last quarter. Tompkins Financial Corp increased its stake in shares of General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock valued at $372,000 after buying an additional 162 shares during the last quarter. Integrated Wealth Management increased its stake in shares of General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock valued at $519,000 after buying an additional 54 shares during the last quarter. Finally, Atria Investments LLC increased its stake in shares of General Mills by 21.3% in the first quarter. Atria Investments LLC now owns 29,052 shares of the company’s stock valued at $1,714,000 after buying an additional 5,108 shares during the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
Shares of General Mills, Inc. (GIS) traded up 0.68% during midday trading on Thursday, reaching $56.15. The company had a trading volume of 1,271,947 shares. The stock has a market capitalization of $32.40 billion, a price-to-earnings ratio of 20.27 and a beta of 0.61. The firm’s 50 day moving average price is $54.98 and its 200-day moving average price is $58.01. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $71.96.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. General Mills’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. Equities research analysts expect that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. General Mills’s payout ratio is 70.76%.
Several analysts have weighed in on the company. BidaskClub upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and set a $67.00 target price on shares of General Mills in a research note on Thursday, June 15th. Royal Bank Of Canada set a $65.00 target price on General Mills and gave the company a “hold” rating in a research note on Monday, April 24th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $59.00 target price (down from $62.00) on shares of General Mills in a research note on Tuesday, May 30th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. General Mills presently has an average rating of “Hold” and an average price target of $59.93.
General Mills Company Profile
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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