Greenleaf Trust maintained its position in shares of General Mills Inc. (NYSE:GIS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,563 shares of the company’s stock at the end of the second quarter. Greenleaf Trust’s holdings in General Mills were worth $254,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in GIS. Commonwealth Equity Services Inc increased its position in General Mills by 6.6% in the first quarter. Commonwealth Equity Services Inc now owns 336,709 shares of the company’s stock worth $21,331,000 after buying an additional 20,882 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in General Mills during the first quarter worth about $833,000. Virginia Retirement System purchased a new position in General Mills during the first quarter worth about $614,000. Badgley Phelps & Bell Inc. increased its position in General Mills by 4.0% in the first quarter. Badgley Phelps & Bell Inc. now owns 121,167 shares of the company’s stock worth $7,676,000 after buying an additional 4,683 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management increased its position in General Mills by 2.3% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 40,651 shares of the company’s stock worth $2,575,000 after buying an additional 917 shares during the last quarter. 70.08% of the stock is currently owned by institutional investors.
Shares of General Mills Inc. (NYSE:GIS) traded down 0.46% during mid-day trading on Friday, reaching $62.13. The company’s stock had a trading volume of 2,759,262 shares. The company’s 50 day moving average price is $67.08 and its 200-day moving average price is $66.25. General Mills Inc. has a 1-year low of $53.53 and a 1-year high of $72.95. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 22.59 and a beta of 0.45.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The business earned $3.91 billion during the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The company’s revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 earnings per share. Analysts predict that General Mills Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 annualized dividend and a dividend yield of 3.09%. General Mills’s dividend payout ratio is currently 69.82%.
A number of brokerages recently weighed in on GIS. Morgan Stanley reaffirmed a “hold” rating on shares of General Mills in a research report on Sunday, July 17th. Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $60.00 price objective (up previously from $58.00) on shares of General Mills in a research report on Thursday, June 30th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. RBC Capital Markets reaffirmed an “outperform” rating and set a $73.00 price objective on shares of General Mills in a research report on Friday, September 23rd. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $76.00 price objective (up previously from $72.00) on shares of General Mills in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and an average price target of $68.22.
In other news, VP Jerald A. Young sold 27,890 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was 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 directly owns 86,271 shares of the company’s stock, valued at approximately $6,214,100.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey L. Harmening sold 33,150 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $71.05, for a total value of $2,355,307.50. Following the transaction, the chief operating officer now directly owns 133,106 shares of the company’s stock, valued at $9,457,181.30. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
About General Mills
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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