HighPoint Advisor Group LLC maintained its stake in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,217 shares of the company’s stock at the end of the second quarter. HighPoint Advisor Group LLC’s holdings in General Mills were worth $462,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in General Mills by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after acquiring an additional 533,919 shares in the last quarter. American Century Companies Inc. raised its holdings in General Mills by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock valued at $539,908,000 after acquiring an additional 659,156 shares in the last quarter. Morgan Stanley raised its holdings in General Mills by 29.4% in the 1st 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 in the last quarter. Geode Capital Management LLC raised its holdings in General Mills by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after acquiring an additional 295,119 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in General Mills by 17.0% in the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after acquiring an additional 660,726 shares in the last quarter. 69.88% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (GIS) opened at $52.97 on Tuesday. General Mills, Inc. has a 52-week low of $49.65 and a 52-week high of $64.06. The company has a market capitalization of $30,281.07, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.63. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.74 and a quick ratio of 0.47.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. equities research analysts expect that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.49 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.70%. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
Several equities analysts have recently issued reports on GIS shares. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Jefferies Group LLC started coverage on General Mills in a research note on Friday, October 20th. They issued a “hold” rating and a $56.00 price target on the stock. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Consumer Edge upgraded General Mills from a “sell” rating to a “neutral” rating in a research note on Friday, September 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 price target (down previously from $55.00) on shares of General Mills in a research note on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and a consensus price target of $56.60.
General Mills 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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