Sheaff Brock Investment Advisors LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,139 shares of the company’s stock after selling 700 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in General Mills were worth $375,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of General Mills by 21.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,471,138 shares of the company’s stock worth $96,224,000 after purchasing an additional 433,796 shares in the last quarter. Geode Capital Management LLC lifted its stake in General Mills by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock valued at $281,036,000 after acquiring an additional 473,831 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in General Mills by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,500 shares of the company’s stock valued at $1,630,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama lifted its stake in General Mills by 1.1% in the first quarter. Retirement Systems of Alabama now owns 277,874 shares of the company’s stock valued at $14,380,000 after acquiring an additional 3,034 shares during the last quarter. Finally, TIAA FSB lifted its stake in shares of General Mills by 6.1% during the 1st quarter. TIAA FSB now owns 63,593 shares of the company’s stock worth $3,291,000 after buying an additional 3,663 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.
A number of equities analysts recently commented on GIS shares. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Morgan Stanley lifted their price target on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, June 27th. Goldman Sachs Group lowered shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price target on the stock. in a report on Tuesday, May 28th. Bank of America reiterated a “neutral” rating and set a $49.00 target price on shares of General Mills in a research report on Friday, May 17th. Finally, Evercore ISI started coverage on shares of General Mills in a research report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. General Mills has an average rating of “Hold” and a consensus price target of $52.66.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. On average, equities research analysts anticipate that General Mills, Inc. will post 3.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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