Great Lakes Advisors LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,778 shares of the company’s stock after selling 1,962 shares during the quarter. Great Lakes Advisors LLC’s holdings in General Mills were worth $930,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lenox Wealth Advisors Inc. lifted its stake in shares of General Mills by 0.8% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the period. Winslow Evans & Crocker Inc. lifted its stake in shares of General Mills by 2.9% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after purchasing an additional 69 shares during the period. Hanson McClain Inc. lifted its stake in shares of General Mills by 1.5% in the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after purchasing an additional 35 shares during the period. IHT Wealth Management LLC lifted its stake in shares of General Mills by 33.4% in the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after purchasing an additional 627 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of General Mills by 11.2% in the 1st quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock valued at $148,000 after purchasing an additional 253 shares during the period. 70.45% of the stock is currently owned by hedge funds and other institutional investors.
General Mills, Inc. (GIS) opened at 51.40 on Monday. The firm has a market capitalization of $29.21 billion, a P/E ratio of 18.42 and a beta of 0.62. General Mills, Inc. has a 1-year low of $50.40 and a 1-year high of $64.06. The company’s 50-day moving average price is $54.04 and its 200-day moving average price is $56.00.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts expect that General Mills, Inc. will post $3.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.81%. General Mills’s payout ratio is 70.25%.
GIS has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $62.00 price objective on General Mills and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $52.00 price objective (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price objective (down from $58.00) on shares of General Mills in a research note on Sunday, June 25th. Finally, Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $57.82 price objective on the stock in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.75.
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General Mills 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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