Sit Investment Associates Inc. held its position in shares of General Mills Inc. (NYSE:GIS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in General Mills were worth $856,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. Sabal Trust CO increased its position in shares of General Mills by 1.4% in the second quarter. Sabal Trust CO now owns 367,084 shares of the company’s stock worth $26,180,000 after buying an additional 5,071 shares during the period. Advisory Services Network LLC increased its position in shares of General Mills by 229.4% in the second quarter. Advisory Services Network LLC now owns 1,937 shares of the company’s stock worth $138,000 after buying an additional 1,349 shares during the period. ING Groep NV increased its position in shares of General Mills by 26.0% in the second quarter. ING Groep NV now owns 104,723 shares of the company’s stock worth $7,471,000 after buying an additional 21,595 shares during the period. Garrison Financial Corp bought a new position in shares of General Mills during the second quarter worth $223,000. Finally, Clean Yield Group increased its position in shares of General Mills by 6.7% in the second quarter. Clean Yield Group now owns 3,205 shares of the company’s stock worth $229,000 after buying an additional 200 shares during the period. Institutional investors own 70.09% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded up 0.47% during midday trading on Wednesday, hitting $62.24. 1,896,365 shares of the stock traded hands. The stock has a 50-day moving average of $66.29 and a 200 day moving average of $66.31. General Mills Inc. has a 52-week low of $53.53 and a 52-week high of $72.95. The firm has a market cap of $36.81 billion, a PE ratio of 22.63 and a beta of 0.45.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The firm earned $3.91 billion during the quarter. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities analysts forecast that General Mills Inc. will post $3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Wednesday, October 5th. General Mills’s dividend payout ratio is currently 69.82%.
Several research analysts have weighed in on the stock. S&P Equity Research reiterated a “buy” rating and issued a $70.00 price target on shares of General Mills in a research report on Tuesday, September 27th. RBC Capital Markets restated an “outperform” rating and set a $73.00 price objective on shares of General Mills in a research report on Friday, September 23rd. Barclays PLC restated an “equal weight” rating and set a $66.00 price objective on shares of General Mills in a research report on Friday, September 23rd. Credit Agricole SA set a $65.00 price objective on shares of General Mills and gave the company a “sell” rating in a research report on Thursday, September 22nd. Finally, Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus target price of $68.22.
In related news, COO Jeffrey L. Harmening sold 33,150 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $71.05, for a total value of $2,355,307.50. Following the completion of the transaction, the chief operating officer now directly owns 133,106 shares in the company, valued at approximately $9,457,181.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jerald A. Young sold 27,890 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $72.03, for a total transaction of $2,008,916.70. Following the completion of the transaction, the vice president now owns 86,271 shares of the company’s stock, valued at $6,214,100.13. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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