Abbrea Capital LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 12.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,636 shares of the company’s stock after selling 1,925 shares during the period. Abbrea Capital LLC’s holdings in General Mills were worth $604,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HC Financial Advisors Inc. bought a new stake in shares of General Mills in the 4th quarter worth approximately $766,000. Global X Management Co. LLC lifted its holdings in shares of General Mills by 1,233.8% in the 1st quarter. Global X Management Co. LLC now owns 153,630 shares of the company’s stock worth $6,923,000 after acquiring an additional 142,112 shares during the last quarter. HL Financial Services LLC lifted its holdings in shares of General Mills by 39.9% in the 1st quarter. HL Financial Services LLC now owns 25,545 shares of the company’s stock worth $1,151,000 after acquiring an additional 7,281 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of General Mills by 82.2% in the 1st quarter. Hennessy Advisors Inc. now owns 154,700 shares of the company’s stock worth $6,971,000 after acquiring an additional 69,800 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of General Mills by 5.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 25,996 shares of the company’s stock worth $1,171,000 after acquiring an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 71.75% of the company’s stock.
Shares of NYSE GIS opened at $47.21 on Friday. 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 52 week low of $41.01 and a 52 week high of $60.69. The firm has a market capitalization of $26.81 billion, a P/E ratio of 15.18, a PEG ratio of 1.74 and a beta of 0.77.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 27th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.72 by $0.07. The company 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 firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 earnings per share. analysts anticipate that General Mills, Inc. will post 3.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Monday, July 9th. General Mills’s payout ratio is currently 63.02%.
A number of brokerages have recently weighed in on GIS. Bank of America restated a “hold” rating and issued a $49.00 price objective on shares of General Mills in a report on Wednesday, June 27th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 target price on shares of General Mills in a research note 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 research note on Thursday, July 12th. Finally, Sanford C. Bernstein reaffirmed a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. Two 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. General Mills has a consensus rating of “Hold” and a consensus price target of $50.71.
In related news, CEO Jeffrey L. Harmening acquired 6,000 shares of General Mills stock in a transaction on Wednesday, May 23rd. The shares were acquired at an average cost of $42.18 per share, with a total value of $253,080.00. Following the transaction, the chief executive officer now owns 114,696 shares in the company, valued at $4,837,877.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kofi A. Bruce sold 2,200 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $47.28, for a total transaction of $104,016.00. Following the transaction, the insider now directly owns 19,660 shares in the company, valued at $929,524.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,018 shares of company stock worth $7,114,487. Insiders own 1.40% of the company’s stock.
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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