Autus Asset Management LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,054 shares of the company’s stock after selling 2,216 shares during the quarter. Autus Asset Management LLC’s holdings in General Mills were worth $623,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flossbach Von Storch AG bought a new position in General Mills in the second quarter valued at approximately $227,578,000. Janus Henderson Group PLC boosted its stake in General Mills by 3,178.6% in the second quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock valued at $144,666,000 after acquiring an additional 2,531,664 shares during the last quarter. Federated Investors Inc. PA boosted its stake in General Mills by 94.6% in the second quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after acquiring an additional 2,195,397 shares during the last quarter. Morgan Stanley boosted 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 acquiring an additional 1,603,577 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after acquiring an additional 1,550,074 shares during the last quarter. 72.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (NYSE:GIS) traded down $0.26 during trading hours on Tuesday, hitting $59.04. 4,100,000 shares of the company were exchanged, compared to its average volume of 4,200,000. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $63.73. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $33,550.00, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. equities analysts predict that General Mills, Inc. will post 3.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.96 annualized dividend and a yield of 3.32%. General Mills’s payout ratio is currently 71.79%.
A number of equities analysts have issued reports on GIS shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $60.00 price objective on shares of General Mills in a research note on Wednesday, September 6th. Royal Bank of Canada reissued a “hold” rating and set a $62.00 price target on shares of General Mills in a research report on Wednesday, September 6th. Consumer Edge raised shares of General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Friday, September 15th. Finally, Susquehanna Bancshares reissued a “hold” rating and set a $58.00 price target on shares of General Mills in a research report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $57.52.
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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.
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