Mutual of Omaha Bank Wealth Management raised its stake in General Mills, Inc. (NYSE:GIS) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,795 shares of the company’s stock after buying an additional 500 shares during the period. Mutual of Omaha Bank Wealth Management’s holdings in General Mills were worth $266,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. First National Bank of Omaha increased its stake in General Mills by 7.6% in the first quarter. First National Bank of Omaha now owns 4,200 shares of the company’s stock valued at $248,000 after buying an additional 297 shares in the last quarter. Cribstone Capital Management LLC increased its stake in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares in the last quarter. Doyle Wealth Management acquired a new stake in General Mills during the first quarter valued at about $428,000. Piershale Financial Group Inc. increased its stake in General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,425 shares of the company’s stock valued at $261,000 after buying an additional 34 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its stake in General Mills by 2.2% in the first quarter. Berkshire Asset Management LLC PA now owns 340,445 shares of the company’s stock valued at $20,090,000 after buying an additional 7,292 shares in the last quarter. Institutional investors own 71.46% of the company’s stock.
General Mills, Inc. (GIS) traded down 0.64% during mid-day trading on Friday, reaching $57.20. 2,459,680 shares of the company traded hands. The stock has a 50 day moving average price of $55.17 and a 200-day moving average price of $57.80. The company has a market capitalization of $33.01 billion, a P/E ratio of 20.65 and a beta of 0.61. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, July 6th. This is a boost from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.40%. General Mills’s dividend payout ratio (DPR) is presently 70.76%.
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GIS has been the subject of several research reports. Royal Bank Of Canada set a $65.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research note on Monday, April 24th. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price for the company in a research note on Monday, May 1st. Credit Suisse Group restated a “neutral” rating and issued a $56.00 target price (down from $65.00) on shares of General Mills in a research note on Friday, May 19th. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Finally, Piper Jaffray Companies started coverage on shares of General Mills in a research note on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 target price for the company. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target 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.
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