OmniStar Financial Group Inc. decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 55.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,178 shares of the company’s stock after selling 5,126 shares during the quarter. OmniStar Financial Group Inc.’s holdings in General Mills were worth $219,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in shares of General Mills during the 2nd quarter worth about $5,185,000. Legacy Advisors LLC bought a new position in shares of General Mills during the 1st quarter worth about $31,000. NuWave Investment Management LLC increased its holdings in shares of General Mills by 377.4% during the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after purchasing an additional 502 shares during the period. Certified Advisory Corp increased its holdings in shares of General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares during the period. Finally, CX Institutional increased its holdings in shares of General Mills by 74.2% during the 2nd quarter. CX Institutional now owns 655 shares of the company’s stock worth $34,000 after purchasing an additional 279 shares during the period. Institutional investors own 69.31% of the company’s stock.
Several research analysts have recently issued reports on the stock. Bank of America restated a “neutral” rating and set a $49.00 price objective on shares of General Mills in a report on Friday, May 17th. Evercore ISI began coverage on shares of General Mills in a research report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price on the stock. UBS Group lifted their target price on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Edward Jones upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Finally, Zacks Investment Research reiterated a “strong-buy” rating on shares of General Mills in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and a consensus price target of $52.66.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, research analysts predict that General Mills, Inc. will post 3.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.49 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.64%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
General Mills 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.
See Also: Book Value Per Share in Stock Trading
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.