Prudential Financial Inc. increased its stake in General Mills, Inc. (NYSE:GIS) by 0.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 642,310 shares of the company’s stock after acquiring an additional 3,080 shares during the quarter. Prudential Financial Inc. owned approximately 0.11% of General Mills worth $27,568,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of General Mills in the 3rd quarter worth $321,000. Financial Counselors Inc. grew its holdings in shares of General Mills by 4.0% in the 3rd quarter. Financial Counselors Inc. now owns 204,922 shares of the company’s stock worth $8,795,000 after acquiring an additional 7,917 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of General Mills by 324.2% in the 2nd quarter. Centaurus Financial Inc. now owns 15,924 shares of the company’s stock worth $705,000 after acquiring an additional 12,170 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of General Mills by 10.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 174,392 shares of the company’s stock worth $7,482,000 after acquiring an additional 16,483 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of General Mills by 15.4% in the 2nd quarter. Voya Investment Management LLC now owns 300,585 shares of the company’s stock worth $13,304,000 after acquiring an additional 40,177 shares during the last quarter. Institutional investors and hedge funds own 69.06% of the company’s stock.
A number of brokerages recently issued reports on GIS. Credit Suisse Group set a $46.00 target price on General Mills and gave the stock a “hold” rating in a report on Thursday, September 13th. UBS Group set a $46.00 target price on General Mills and gave the stock a “hold” rating in a report on Wednesday, September 19th. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Piper Jaffray Companies set a $47.00 target price on General Mills and gave the stock a “hold” rating in a report on Wednesday, September 19th. Finally, Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus target price of $50.29.
General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 4.52%. General Mills’s payout ratio is 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.
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