Dodge & Cox maintained its stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,200 shares of the company’s stock at the end of the 2nd quarter. Dodge & Cox’s holdings in General Mills were worth $620,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lenox Wealth Advisors Inc. grew its position in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the period. LLBH Private Wealth Management LLC grew its position in shares of General Mills by 0.6% in the second quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock valued at $241,000 after purchasing an additional 25 shares during the period. Davis R M Inc. grew its position in shares of General Mills by 0.8% in the second quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock valued at $233,000 after purchasing an additional 34 shares during the period. Hanson McClain Inc. grew its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after purchasing an additional 35 shares during the period. Finally, CFO4Life Group LLC grew its position in shares of General Mills by 1.3% in the second quarter. CFO4Life Group LLC now owns 3,827 shares of the company’s stock valued at $212,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.
GIS has been the topic of several research analyst reports. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada set a $62.00 price target on shares of General Mills and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC assumed coverage on shares of General Mills in a research report on Friday, October 20th. They set a “hold” rating and a $56.00 price target on the stock. Consumer Edge upgraded shares of General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Finally, Morgan Stanley restated an “equal weight” rating and set a $52.00 price target (down from $55.00) on shares of General Mills in a research report on Thursday, September 21st. Four equities 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’s stock. The company currently has an average rating of “Hold” and an average target price of $56.60.
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General Mills (NYSE:GIS) last released its quarterly earnings results 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 period in the prior year, the business earned $0.78 earnings per share. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.78%. General Mills’s dividend payout ratio is currently 70.25%.
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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