Monroe Bank & Trust MI increased its position in shares of General Mills, Inc. (NYSE:GIS) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,743 shares of the company’s stock after purchasing an additional 443 shares during the quarter. Monroe Bank & Trust MI’s holdings in General Mills were worth $761,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in General Mills by 7.3% during the second quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock worth $539,908,000 after purchasing an additional 659,156 shares during the last quarter. Morgan Stanley boosted its holdings in General Mills by 29.4% during the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after purchasing an additional 1,603,577 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in General Mills by 26.1% during 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 purchasing an additional 1,449,632 shares during the last quarter. Geode Capital Management LLC boosted its holdings in General Mills by 5.3% during the first quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after purchasing an additional 295,119 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in General Mills by 17.0% during the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock worth $268,283,000 after purchasing an additional 660,726 shares during the last quarter. Institutional investors and hedge funds own 70.45% of the company’s stock.
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General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. On average, equities research analysts expect that General Mills, Inc. will post $3.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s payout ratio is 70.25%.
Several research analysts recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, June 29th. BMO Capital Markets restated a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG restated a “neutral” rating and set a $58.00 price target (down from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Wells Fargo & Company cut their price target on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.75.
General Mills Profile
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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