Scotia Capital Inc. increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 30.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,616 shares of the company’s stock after acquiring an additional 11,764 shares during the quarter. Scotia Capital Inc.’s holdings in General Mills were worth $2,804,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after acquiring an additional 533,919 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of General Mills by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock worth $539,908,000 after acquiring an additional 659,156 shares during the last quarter. Morgan Stanley increased its holdings in shares of General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after acquiring an additional 1,603,577 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of General Mills by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after acquiring an additional 295,119 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of General Mills by 17.0% during the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock worth $268,283,000 after acquiring an additional 660,726 shares during the last quarter. 69.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (NYSE:GIS) opened at C$53.28 on Monday. The firm has a market capitalization of $30,281.07, a price-to-earnings ratio of 17.70, a PEG ratio of 1.99 and a beta of 0.63. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.83. General Mills, Inc. has a 1 year low of C$49.65 and a 1 year high of C$64.06.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported C$0.71 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.76 by C($0.05). The company had revenue of C$3.77 billion for the quarter, compared to the consensus estimate of C$3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. sell-side analysts anticipate that General Mills, Inc. will post 3.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. The ex-dividend date was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.68%. General Mills’s payout ratio is 70.25%.
A number of research firms recently weighed in on GIS. Societe Generale raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Royal Bank Of Canada set a $58.00 target price on General Mills and gave the stock a “hold” rating in a report on Monday, October 23rd. Jefferies Group LLC began coverage on General Mills in a report on Friday, October 20th. They set a “hold” rating and a $56.00 target price on the stock. Finally, Susquehanna Bancshares Inc set a $56.00 target price on General Mills and gave the stock a “hold” rating in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus price target of C$56.60.
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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