Schwab Charles Investment Management Inc. increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,111,865 shares of the company’s stock after buying an additional 317,122 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.69% of General Mills worth $181,992,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in GIS. HC Financial Advisors Inc. purchased a new position in shares of General Mills during the 4th quarter worth approximately $766,000. Global X Management Co. LLC boosted its position in shares of General Mills by 1,233.8% during the 1st quarter. Global X Management Co. LLC now owns 153,630 shares of the company’s stock worth $6,923,000 after purchasing an additional 142,112 shares during the period. HL Financial Services LLC boosted its position in shares of General Mills by 39.9% during the 1st quarter. HL Financial Services LLC now owns 25,545 shares of the company’s stock worth $1,151,000 after purchasing an additional 7,281 shares during the period. Hennessy Advisors Inc. boosted its position in shares of General Mills by 82.2% during the 1st quarter. Hennessy Advisors Inc. now owns 154,700 shares of the company’s stock worth $6,971,000 after purchasing an additional 69,800 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of General Mills by 5.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 25,996 shares of the company’s stock worth $1,171,000 after purchasing an additional 1,240 shares during the period. Institutional investors and hedge funds own 71.75% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Bank of America reaffirmed a “hold” rating and set a $49.00 price objective on shares of General Mills in a research report on Wednesday, June 27th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 target price on shares of General Mills in a report on Wednesday, June 27th. Piper Jaffray Companies set a $45.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Thursday, July 12th. Finally, Sanford C. Bernstein reiterated a “sell” rating on shares of General Mills in a report on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $50.71.
Shares of NYSE:GIS opened at $47.21 on Friday. The stock has a market capitalization of $26.81 billion, a PE ratio of 15.18, a PEG ratio of 1.74 and a beta of 0.77. The company has a current ratio of 0.56, a quick ratio of 0.34 and a debt-to-equity ratio of 1.95. General Mills, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $60.69.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.89 billion. General Mills had a net margin of 13.54% and a return on equity of 35.14%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. equities analysts predict that General Mills, Inc. will post 3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Monday, July 9th. General Mills’s payout ratio is 63.02%.
In other news, CEO Jeffrey L. Harmening bought 6,000 shares of the stock in a transaction dated Wednesday, May 23rd. The shares were acquired at an average price of $42.18 per share, with a total value of $253,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 114,696 shares in the company, valued at $4,837,877.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kofi A. Bruce sold 2,200 shares of General Mills stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $47.28, for a total transaction of $104,016.00. Following the completion of the sale, the insider now directly owns 19,660 shares in the company, valued at approximately $929,524.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,018 shares of company stock worth $7,114,487. Insiders own 1.40% of the company’s stock.
About General Mills
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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