Fmr LLC raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 38.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,200,816 shares of the company’s stock after purchasing an additional 336,326 shares during the period. Fmr LLC owned 0.21% of General Mills worth $66,526,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in General Mills by 1.4% in the second quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after purchasing an additional 533,919 shares during the last quarter. American Century Companies Inc. boosted its holdings in General Mills by 7.3% in 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% in 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. Geode Capital Management LLC boosted its holdings in General Mills by 5.3% in 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% in 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. 69.69% of the stock is owned by institutional investors and hedge funds.
GIS has been the topic of several research reports. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Jefferies Group LLC started coverage on shares of General Mills in a report on Friday, October 20th. They issued a “hold” rating and a $56.00 target price on the stock. Royal Bank Of Canada dropped their price target on shares of General Mills from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Wells Fargo & Company dropped 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 research note on Friday, September 22nd. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $56.60.
General Mills, Inc. (NYSE GIS) opened at 51.92 on Wednesday. General Mills, Inc. has a 1-year low of $50.12 and a 1-year high of $64.06. The company’s 50 day moving average is $52.32 and its 200-day moving average is $55.12. The stock has a market capitalization of $29.51 billion, a PE ratio of 18.60 and a beta of 0.61.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post $3.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, October 6th. General Mills’s payout ratio is currently 70.25%.
General Mills Company 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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