Comerica Securities Inc. boosted its stake in General Mills, Inc. (NYSE:GIS) by 9.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,893 shares of the company’s stock after buying an additional 592 shares during the period. Comerica Securities Inc.’s holdings in General Mills were worth $407,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock worth $107,000 after buying an additional 14 shares during the period. Cribstone Capital Management LLC boosted its position 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 worth $116,000 after buying an additional 1,480 shares during the period. Commonwealth Financial Services LLC boosted its position 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 worth $130,000 after buying an additional 2,058 shares during the period. Hanson McClain Inc. boosted its position 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 worth $138,000 after buying an additional 35 shares during the period. Finally, Assetmark Inc. boosted its position in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the period. 71.46% of the stock is owned by institutional investors.
Shares of General Mills, Inc. (GIS) traded up 0.38% during trading on Wednesday, hitting $57.53. 342,439 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $55.08 and its 200 day moving average is $57.81. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $71.96. The firm has a market capitalization of $33.20 billion, a PE ratio of 20.77 and a beta of 0.61.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. General Mills’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post $3.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.42%. This is a positive change from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, July 6th. General Mills’s dividend payout ratio is presently 70.76%.
GIS has been the subject of a number of recent research reports. UBS AG reissued a “neutral” rating and set a $61.00 price objective (down from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Piper Jaffray Companies set a $56.00 price objective on shares of General Mills and gave the stock a “sell” rating in a research note on Monday, August 7th. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $59.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research note on Sunday, June 25th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average price target of $59.93.
About General Mills
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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