Ontario Teachers Pension Plan Board raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 37.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 616,661 shares of the company’s stock after purchasing an additional 168,959 shares during the period. Ontario Teachers Pension Plan Board owned 0.11% of General Mills worth $34,163,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Waters Parkerson & CO. LLC grew its holdings in General Mills by 3.8% during the second quarter. Waters Parkerson & CO. LLC now owns 298,920 shares of the company’s stock valued at $16,560,000 after purchasing an additional 10,950 shares during the period. OxFORD Asset Management LLP bought a new stake in General Mills during the second quarter valued at about $4,060,000. Evercore Wealth Management LLC grew its holdings in General Mills by 0.7% during the second quarter. Evercore Wealth Management LLC now owns 27,401 shares of the company’s stock valued at $1,518,000 after purchasing an additional 196 shares during the period. Ally Financial Inc. bought a new stake in General Mills during the second quarter valued at about $2,382,000. Finally, Dimensional Fund Advisors LP grew its holdings in General Mills by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,528,242 shares of the company’s stock valued at $84,661,000 after purchasing an additional 181,798 shares during the period. 69.69% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on GIS. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies set a $56.00 price target on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. Finally, Susquehanna Bancshares Inc set a $56.00 price target on General Mills and gave the company a “hold” rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.60.
Shares of General Mills, Inc. (NYSE:GIS) opened at $51.34 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.74 and a quick ratio of 0.47. The company has a market capitalization of $29,178.52, a PE ratio of 17.06, a P/E/G ratio of 1.91 and a beta of 0.63. General Mills, Inc. has a 52-week low of $50.12 and a 52-week high of $64.06.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The firm 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%. General Mills’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. analysts anticipate that General Mills, Inc. will post 3.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a $0.49 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.82%. 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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