General Mills, Inc. (GIS) Position Held by Jarislowsky Fraser Ltd

Jarislowsky Fraser Ltd maintained its stake in General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,637 shares of the company’s stock at the end of the second quarter. Jarislowsky Fraser Ltd’s holdings in General Mills were worth $478,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Morgan Stanley boosted its stake in General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after buying an additional 1,603,577 shares in the last quarter. 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 valued at $413,862,000 after buying an additional 1,449,632 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after buying an additional 1,190,200 shares during the last quarter. Schroder Investment Management Group raised its position in shares of General Mills by 17.0% in the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after buying an additional 660,726 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of General Mills by 24.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,571,833 shares of the company’s stock valued at $151,764,000 after buying an additional 508,007 shares during the last quarter. 70.97% of the stock is owned by hedge funds and other institutional investors.

Shares of General Mills, Inc. (GIS) opened at 56.59 on Friday. The stock’s 50 day moving average is $55.00 and its 200 day moving average is $57.96. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96. The company has a market cap of $32.66 billion, a PE ratio of 20.43 and a beta of 0.61.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post $3.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.49 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, July 6th. General Mills’s dividend payout ratio is currently 70.76%.

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Several brokerages recently issued reports on GIS. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target for the company in a research note on Monday, May 1st. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. UBS AG restated a “neutral” rating and set a $61.00 price objective (down from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Piper Jaffray Companies restated an “underweight” rating and set a $56.00 price objective (down from $57.00) on shares of General Mills in a research note on Monday, June 19th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and set a $58.00 price objective (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $59.93.

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.

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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