APG Asset Management N.V. cut its position in General Mills, Inc. (NYSE:GIS) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,450,929 shares of the company’s stock after selling 277,700 shares during the period. APG Asset Management N.V.’s holdings in General Mills were worth $246,581,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares in the last quarter. Cribstone Capital Management LLC raised 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. Commonwealth Financial Services LLC raised its stake in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after buying an additional 69 shares during the last quarter. Finally, Hanson McClain Inc. raised its stake in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the last quarter. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
General Mills, Inc. (GIS) traded up 0.68% on Thursday, hitting $56.15. 1,271,947 shares of the company were exchanged. The firm has a market cap of $32.40 billion, a price-to-earnings ratio of 20.27 and a beta of 0.61. The stock has a 50 day moving average price of $54.98 and a 200 day moving average price of $58.01. General Mills, Inc. has a one year low of $53.24 and a one year high of $71.96.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This is an increase from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.51%. General Mills’s payout ratio is currently 70.76%.
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Several brokerages have commented on GIS. Royal Bank Of Canada dropped their price target on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 29th. BMO Capital Markets restated a “hold” rating on shares of General Mills in a research note on Tuesday. UBS AG restated a “neutral” rating and issued a $58.00 price target (down previously from $61.00) on shares of General Mills in a research note on Friday, June 30th. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Finally, Piper Jaffray Companies restated an “underweight” rating and issued a $56.00 price target (down previously from $57.00) on shares of General Mills in a research note on Monday, June 19th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price 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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