Cobblestone Capital Advisors LLC NY trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,900 shares of the company’s stock after selling 1,200 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in General Mills were worth $425,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in GIS. Acadian Asset Management LLC acquired a new stake in shares of General Mills in the second quarter worth $115,000. Unigestion Holding SA acquired a new stake in shares of General Mills in the second quarter worth $5,833,000. Congress Asset Management Co. MA grew its stake in shares of General Mills by 4.7% in the second quarter. Congress Asset Management Co. MA now owns 58,082 shares of the company’s stock worth $2,571,000 after acquiring an additional 2,611 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of General Mills by 42.8% in the second quarter. Bessemer Group Inc. now owns 33,083 shares of the company’s stock worth $1,465,000 after acquiring an additional 9,914 shares during the last quarter. Finally, Advisor Partners LLC grew its stake in shares of General Mills by 52.1% in the second quarter. Advisor Partners LLC now owns 16,491 shares of the company’s stock worth $730,000 after acquiring an additional 5,650 shares during the last quarter. Institutional investors own 69.06% of the company’s stock.
Several equities research analysts have recently issued reports on GIS shares. ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Morgan Stanley decreased their price target on shares of General Mills from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, September 20th. UBS Group set a $46.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $52.00 price target on shares of General Mills in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and a consensus price target of $50.29.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.52%. General Mills’s payout ratio is currently 63.02%.
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.
Further Reading: Quiet Period
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