FDx Advisors Inc. lowered its stake in General Mills, Inc. (NYSE:GIS) by 27.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,870 shares of the company’s stock after selling 38,927 shares during the quarter. FDx Advisors Inc.’s holdings in General Mills were worth $4,553,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in General Mills by 9.3% during the 1st quarter. BlackRock Inc. now owns 47,261,193 shares of the company’s stock valued at $2,129,588,000 after purchasing an additional 4,033,152 shares during the period. Massachusetts Financial Services Co. MA raised its stake in General Mills by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,682,121 shares of the company’s stock valued at $1,048,171,000 after purchasing an additional 598,315 shares during the period. Bank of New York Mellon Corp raised its stake in General Mills by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock valued at $338,359,000 after purchasing an additional 46,939 shares during the period. Schroder Investment Management Group raised its stake in General Mills by 36.4% during the 1st quarter. Schroder Investment Management Group now owns 4,915,769 shares of the company’s stock valued at $221,504,000 after purchasing an additional 1,311,067 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in General Mills by 8.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,111,865 shares of the company’s stock valued at $181,992,000 after purchasing an additional 317,122 shares during the period. 70.40% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on GIS shares. Goldman Sachs Group raised General Mills from a “sell” rating to a “neutral” rating and set a $47.00 target price on the stock in a research note on Wednesday, May 16th. ValuEngine downgraded General Mills from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Citigroup decreased their target price on General Mills from $61.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, Susquehanna Bancshares set a $50.00 target price on General Mills and gave the company a “buy” rating in a research note on Monday, May 21st. 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 company. The stock presently has an average rating of “Hold” and an average price target of $50.71.
NYSE GIS opened at $47.58 on Tuesday. The company has a market cap of $28.14 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.82 and a beta of 0.77. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.56 and a quick ratio of 0.34. General Mills, Inc. has a 1-year low of $41.01 and a 1-year high of $60.69.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.07. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.89 billion. General Mills had a return on equity of 35.14% and a net margin of 13.54%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. research analysts forecast that General Mills, Inc. will post 3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, July 9th. General Mills’s dividend payout ratio is presently 63.02%.
In other news, CEO Jeffrey L. Harmening purchased 6,000 shares of the business’s stock in a transaction on Wednesday, May 23rd. The stock was acquired at an average price of $42.18 per share, for a total transaction of $253,080.00. Following the acquisition, the chief executive officer now directly owns 114,696 shares of the company’s stock, valued at approximately $4,837,877.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kofi A. Bruce sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $47.28, for a total value of $104,016.00. Following the transaction, the insider now owns 19,660 shares of the company’s stock, valued at approximately $929,524.80. The disclosure for this sale can be found here. Insiders have sold a total of 158,018 shares of company stock valued at $7,114,487 in the last 90 days. 0.59% of the stock is currently owned by company insiders.
General Mills Company 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.
Recommended Story: Average Daily Trade Volume – ADTV
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.