Guyasuta Investment Advisors Inc. grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 6.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,555 shares of the company’s stock after buying an additional 1,550 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in General Mills were worth $1,557,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL grew its stake in General Mills by 2.3% in the second quarter. Blair William & Co. IL now owns 118,191 shares of the company’s stock worth $7,201,000 after purchasing an additional 2,695 shares in the last quarter. Stevens Capital Management LP bought a new position in General Mills in the second quarter worth approximately $425,000. Kentucky Retirement Systems bought a new position in General Mills in the second quarter worth approximately $2,164,000. Bank of Nova Scotia grew its stake in General Mills by 70.4% in the second quarter. Bank of Nova Scotia now owns 216,116 shares of the company’s stock worth $13,168,000 after purchasing an additional 89,290 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in General Mills by 10.0% during the 2nd quarter. Bank of Montreal Can now owns 1,242,506 shares of the company’s stock valued at $75,369,000 after acquiring an additional 113,380 shares in the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
GIS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of General Mills in a research report on Wednesday, June 9th. Credit Suisse Group cut General Mills from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $63.00 in a research report on Monday, September 13th. Royal Bank of Canada increased their target price on General Mills from $65.00 to $66.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group initiated coverage on General Mills in a research report on Thursday. They set a “hold” rating and a $64.00 target price on the stock. Finally, Morgan Stanley cut General Mills from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $57.00 to $51.00 in a research report on Tuesday, September 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $60.57.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Tuesday, September 21st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.30 billion. General Mills had a return on equity of 25.61% and a net margin of 12.91%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. On average, equities research analysts anticipate that General Mills, Inc. will post 3.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were paid a $0.51 dividend. The ex-dividend date of this dividend was Thursday, July 8th. This represents a $2.04 dividend on an annualized basis and a yield of 3.38%. General Mills’s dividend payout ratio (DPR) is 53.83%.
In related news, insider Sean N. Walker sold 26,337 shares of the firm’s stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $58.78, for a total value of $1,548,088.86. Following the completion of the transaction, the insider now owns 105,647 shares in the company, valued at approximately $6,209,930.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.
General Mills Profile
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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