Davidson & Garrard Inc. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 3.7% during the first quarter, Holdings Channel reports. The firm owned 4,863 shares of the company’s stock after selling 188 shares during the period. Davidson & Garrard Inc.’s holdings in General Mills were worth $287,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in General Mills by 3.1% in the first quarter. American Century Companies Inc. now owns 9,086,471 shares of the company’s stock worth $536,193,000 after buying an additional 269,906 shares during the period. Bank of New York Mellon Corp boosted its stake in General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock worth $413,862,000 after buying an additional 1,449,632 shares during the period. Norges Bank acquired a new stake in General Mills during the fourth quarter worth about $297,782,000. APG Asset Management N.V. boosted its stake in General Mills by 0.6% in the first quarter. APG Asset Management N.V. now owns 4,728,629 shares of the company’s stock worth $279,036,000 after buying an additional 26,500 shares during the period. Finally, Janus Capital Management LLC boosted its stake in General Mills by 9.7% in the fourth quarter. Janus Capital Management LLC now owns 3,855,748 shares of the company’s stock worth $238,169,000 after buying an additional 340,922 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.
General Mills, Inc. (NYSE GIS) opened at 53.63 on Monday. General Mills, Inc. has a 52-week low of $53.55 and a 52-week high of $72.70. The company has a market cap of $30.95 billion, a price-to-earnings ratio of 19.36 and a beta of 0.61. The stock has a 50 day moving average of $56.80 and a 200-day moving average of $59.47.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm posted $0.66 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post $3.10 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a dividend of $0.49 per share. This is an increase from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, July 6th. This represents a $1.96 annualized dividend and a yield of 3.65%. General Mills’s dividend payout ratio (DPR) is currently 70.76%.
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A number of analysts have issued reports on GIS shares. Royal Bank of Canada reiterated a “hold” rating on shares of General Mills in a research note on Sunday, March 12th. Susquehanna Bancshares Inc set a $59.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Sunday, June 25th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $52.00 target price (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Finally, Stifel Nicolaus cut shares of General Mills from a “buy” rating to a “hold” rating and reduced their target price for the company from $67.00 to $60.00 in a research note on Wednesday, March 22nd. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $61.40.
In other General Mills news, insider Jonathon Nudi purchased 1,800 shares of the business’s stock in a transaction on Wednesday, April 12th. The stock was acquired at an average price of $57.45 per share, with a total value of $103,410.00. Following the acquisition, the insider now directly owns 34,077 shares of the company’s stock, valued at approximately $1,957,723.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
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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