Fayez Sarofim & Co. cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,176 shares of the company’s stock after selling 1,860 shares during the period. Fayez Sarofim & Co.’s holdings in General Mills were worth $1,450,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its position in General Mills by 21.8% during the 2nd quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock worth $2,968,000 after acquiring an additional 9,952 shares in the last quarter. Boston Advisors LLC lifted its position in General Mills by 1.8% during the 2nd quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock worth $1,156,000 after acquiring an additional 375 shares in the last quarter. Bfsg LLC acquired a new position in General Mills during the 1st quarter worth approximately $2,843,000. LVW Advisors LLC acquired a new position in General Mills during the 2nd quarter worth approximately $2,515,000. Finally, PVG Asset Management Corp acquired a new position in General Mills during the 1st quarter worth approximately $6,352,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on GIS. Bank of America Corporation reduced their price target on General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Citigroup Inc. reissued a “buy” rating and set a $67.00 price target on shares of General Mills in a research report on Thursday, September 21st. Royal Bank Of Canada reissued a “hold” rating and set a $62.00 price target on shares of General Mills in a research report on Wednesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $60.00 price target on shares of General Mills in a research report on Wednesday, September 6th. Finally, Susquehanna Bancshares Inc reissued a “hold” rating and set a $58.00 price target on shares of General Mills in a research report on Tuesday, September 19th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and a consensus target price of $56.60.
General Mills, Inc. (NYSE:GIS) opened at 51.57 on Monday. The company’s 50-day moving average price is $52.56 and its 200-day moving average price is $55.23. The company has a market capitalization of $29.31 billion, a P/E ratio of 18.48 and a beta of 0.62. General Mills, Inc. has a 52 week low of $50.12 and a 52 week high of $64.06.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post $3.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.80%. General Mills’s payout ratio is presently 70.25%.
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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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