Rehmann Capital Advisory Group cut its position in shares of General Mills, Inc. (NYSE:GIS) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,234 shares of the company’s stock after selling 339 shares during the period. Rehmann Capital Advisory Group’s holdings in General Mills were worth $345,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GIS. American Century Companies Inc. raised its position in General Mills by 3.1% in the first quarter. American Century Companies Inc. now owns 9,086,471 shares of the company’s stock valued at $536,193,000 after buying an additional 269,906 shares during the last quarter. Morgan Stanley raised its stake in General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after buying an additional 1,603,577 shares in the last quarter. Bank of New York Mellon Corp raised its stake in General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after buying an additional 1,449,632 shares in the last quarter. Geode Capital Management LLC raised its stake in General Mills by 5.3% in the first quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after buying an additional 295,119 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in General Mills by 0.6% in the first quarter. APG Asset Management N.V. now owns 4,728,629 shares of the company’s stock valued at $279,036,000 after buying an additional 26,500 shares in the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.
General Mills, Inc. (NYSE GIS) traded down 0.984% on Tuesday, hitting $55.825. The stock had a trading volume of 2,354,112 shares. The stock has a market cap of $32.22 billion, a P/E ratio of 20.153 and a beta of 0.61. General Mills, Inc. has a 12 month low of $53.24 and a 12 month high of $71.96. The company’s 50 day moving average is $55.28 and its 200-day moving average is $58.21.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. General Mills’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. Analysts forecast that General Mills, Inc. will post $3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.48%. This is a boost from General Mills’s previous quarterly dividend of $0.48. General Mills’s payout ratio is 70.76%.
A number of brokerages recently weighed in on GIS. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target on the stock in a report on Monday, May 1st. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price target (down from $58.00) on shares of General Mills in a report on Sunday, June 25th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reiterated a “hold” rating and set a $67.00 price target on shares of General Mills in a research report on Thursday, June 15th. Finally, Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $59.93.
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.
Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with MarketBeat.com's FREE daily email newsletter.