Public Employees Retirement System of Ohio reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 431,758 shares of the company’s stock after selling 8,671 shares during the period. Public Employees Retirement System of Ohio’s holdings in General Mills were worth $25,478,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GIS. Alpha Windward LLC boosted its stake in shares of General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock worth $241,000 after buying an additional 34 shares in the last quarter. Tompkins Financial Corp raised its position in General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock worth $372,000 after buying an additional 162 shares during the last quarter. Integrated Wealth Management raised its position in General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock worth $519,000 after buying an additional 54 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in General Mills by 1.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 15,772 shares of the company’s stock worth $870,000 after buying an additional 252 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in General Mills during the first quarter worth $498,000. Hedge funds and other institutional investors own 71.46% of the company’s stock.
General Mills, Inc. (NYSE GIS) traded down 0.061% during trading on Tuesday, reaching $57.365. The company’s stock had a trading volume of 759,261 shares. The company has a market cap of $33.11 billion, a PE ratio of 20.709 and a beta of 0.61. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96. The stock has a 50-day moving average price of $55.05 and a 200 day moving average price of $57.85.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 39.09% and a net margin of 10.40%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. On average, analysts expect that General Mills, Inc. will post $3.11 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a yield of 3.41%. This is a positive change from General Mills’s previous quarterly dividend of $0.48. General Mills’s payout ratio is 70.76%.
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A number of brokerages have commented on GIS. UBS AG reaffirmed a “neutral” rating and issued a $61.00 price objective (down from $63.00) on shares of General Mills in a report on Wednesday, June 21st. Piper Jaffray Companies set a $56.00 target price on General Mills and gave the company a “sell” rating in a research report on Monday, August 7th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. BidaskClub upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $59.00 target price on General Mills and gave the company a “hold” rating in a research report on Sunday, June 25th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. The stock 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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