Retirement Systems of Alabama Sells 1,077 Shares of General Mills Inc. (GIS)
Retirement Systems of Alabama cut its stake in shares of General Mills Inc. (NYSE:GIS) by 0.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 301,956 shares of the company’s stock after selling 1,077 shares during the period. Retirement Systems of Alabama owned 0.05% of General Mills worth $19,289,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Hallmark Capital Management Inc. bought a new position in shares of General Mills during the second quarter worth about $103,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of General Mills during the second quarter worth about $107,000. Penserra Capital Management LLC boosted its position in shares of General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock worth $110,000 after buying an additional 864 shares during the period. Brick & Kyle Associates boosted its position in shares of General Mills by 6.7% in the second quarter. Brick & Kyle Associates now owns 1,592 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the period. Finally, Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock worth $114,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 67.98% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded up 0.58% on Tuesday, hitting $62.44. The company’s stock had a trading volume of 711,158 shares. The firm has a 50 day moving average of $61.61 and a 200-day moving average of $66.09. General Mills Inc. has a 12 month low of $53.53 and a 12 month high of $72.95. The stock has a market cap of $36.93 billion, a PE ratio of 22.71 and a beta of 0.55.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The company had revenue of $3.91 billion for the quarter. During the same quarter in the previous year, the company earned $0.79 EPS. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, analysts expect that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 3.09%. General Mills’s payout ratio is currently 69.82%.
GIS has been the topic of a number of recent analyst reports. Credit Suisse Group AG restated a “hold” rating and set a $74.00 target price on shares of General Mills in a report on Thursday, September 8th. S&P Equity Research restated a “buy” rating and set a $70.00 target price on shares of General Mills in a report on Tuesday, September 27th. BMO Capital Markets restated a “hold” rating and set a $74.00 target price on shares of General Mills in a report on Thursday, September 22nd. Deutsche Bank AG restated a “hold” rating and set a $67.00 target price on shares of General Mills in a report on Wednesday, September 14th. Finally, Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and an average target price of $67.56.
General Mills Company 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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