Beese Fulmer Investment Management Inc. decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,005 shares of the company’s stock after selling 708 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in General Mills were worth $1,838,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Syquant Capital Sas bought a new position in General Mills in the second quarter valued at about $3,414,000. LVM Capital Management Ltd. MI grew its holdings in shares of General Mills by 10.7% during the second quarter. LVM Capital Management Ltd. MI now owns 8,254 shares of the company’s stock worth $434,000 after purchasing an additional 800 shares during the last quarter. Thomasville National Bank grew its holdings in shares of General Mills by 1.7% during the second quarter. Thomasville National Bank now owns 149,463 shares of the company’s stock worth $7,850,000 after purchasing an additional 2,456 shares during the last quarter. FMR LLC grew its holdings in shares of General Mills by 92.9% during the first quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after purchasing an additional 1,652,275 shares during the last quarter. Finally, Horizon Investments LLC bought a new stake in shares of General Mills during the first quarter worth about $200,000. 69.38% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on GIS shares. Evercore ISI started coverage on Mondelez International in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $62.00 price objective on the stock. Guggenheim lifted their price objective on General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Jaffray Companies lifted their price objective on General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Goldman Sachs Group set a $27.00 price objective on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, UBS Group set a €83.00 ($96.51) price objective on Schneider Electric and gave the stock a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $52.66.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a return on equity of 27.67% and a net margin of 10.39%. General Mills’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. Equities analysts expect that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.74%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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