Mutual of America Capital Management LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,507 shares of the company’s stock after buying an additional 1,382 shares during the period. Mutual of America Capital Management LLC’s holdings in General Mills were worth $3,906,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of General Mills by 21.8% in the 2nd quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock valued at $2,968,000 after purchasing an additional 9,952 shares in the last quarter. Boston Advisors LLC boosted its stake in shares of General Mills by 1.8% in the 2nd quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock valued at $1,156,000 after purchasing an additional 375 shares in the last quarter. Bfsg LLC purchased a new stake in shares of General Mills in the 1st quarter valued at $2,843,000. LVW Advisors LLC purchased a new stake in shares of General Mills in the 2nd quarter valued at $2,515,000. Finally, PVG Asset Management Corp purchased a new stake in shares of General Mills in the 1st quarter valued at $6,352,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages have recently issued reports on GIS. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Royal Bank Of Canada set a $62.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company cut their price objective on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Finally, Susquehanna Bancshares Inc set a $56.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.60.
Shares of General Mills, Inc. (NYSE GIS) opened at 50.66 on Tuesday. The stock has a 50 day moving average of $52.42 and a 200 day moving average of $55.15. The stock has a market capitalization of $28.79 billion, a PE ratio of 18.15 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). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. Analysts forecast that General Mills, Inc. will post $3.08 earnings per share for the current 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 paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.
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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