Commerzbank Aktiengesellschaft FI lessened its position in General Mills, Inc. (NYSE:GIS) by 37.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,629 shares of the company’s stock after selling 44,388 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in General Mills were worth $4,190,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Alerus Financial NA grew its position in shares of General Mills by 6.4% in the 2nd quarter. Alerus Financial NA now owns 21,795 shares of the company’s stock valued at $1,208,000 after acquiring an additional 1,312 shares during the period. Sawtooth Solutions LLC grew its position in shares of General Mills by 45.0% in the 2nd quarter. Sawtooth Solutions LLC now owns 11,149 shares of the company’s stock valued at $618,000 after acquiring an additional 3,460 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of General Mills by 1,657.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 154,164 shares of the company’s stock valued at $8,540,000 after acquiring an additional 145,390 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of General Mills by 25.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 54,955 shares of the company’s stock valued at $3,044,000 after acquiring an additional 11,214 shares during the period. Finally, Nuance Investments LLC bought a new position in shares of General Mills in the 2nd quarter valued at about $5,870,000. 70.45% of the stock is owned by institutional investors.
A number of research analysts have recently commented on GIS shares. Royal Bank Of Canada set a $62.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Consumer Edge raised shares of General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price objective (down previously from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $52.00 price objective (down previously from $59.00) on shares of General Mills in a research report on Friday, June 30th. Finally, Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $57.82 target price for the company in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $56.64.
Shares of General Mills, Inc. (NYSE:GIS) opened at 51.70 on Wednesday. The firm has a 50-day moving average of $53.11 and a 200-day moving average of $55.65. General Mills, Inc. has a 12-month low of $50.13 and a 12-month high of $64.06. The company has a market cap of $29.38 billion, a P/E ratio of 18.52 and a beta of 0.61.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. General Mills’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Analysts predict that General Mills, Inc. will post $3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.79%. General Mills’s dividend payout ratio is presently 70.25%.
General Mills Company Profile
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.
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