Neville Rodie & Shaw Inc. Has $294,000 Stake in General Mills, Inc. (GIS)
Neville Rodie & Shaw Inc. continued to hold its stake in General Mills, Inc. (NYSE:GIS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,982 shares of the company’s stock at the end of the first quarter. Neville Rodie & Shaw Inc.’s holdings in General Mills were worth $294,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in GIS. Parallel Advisors LLC acquired a new stake in General Mills during the fourth quarter worth about $522,000. Envestnet Asset Management Inc. raised its stake in General Mills by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 123,031 shares of the company’s stock worth $7,601,000 after buying an additional 1,779 shares during the period. Zurich Insurance Group Ltd FI raised its stake in General Mills by 40.4% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 106,006 shares of the company’s stock worth $6,548,000 after buying an additional 30,529 shares during the period. Scotia Capital Inc. raised its stake in General Mills by 33.2% in the fourth quarter. Scotia Capital Inc. now owns 54,264 shares of the company’s stock worth $3,354,000 after buying an additional 13,539 shares during the period. Finally, Intact Investment Management Inc. raised its stake in General Mills by 16.5% in the fourth quarter. Intact Investment Management Inc. now owns 57,100 shares of the company’s stock worth $3,527,000 after buying an additional 8,100 shares during the period. 70.35% of the stock is currently owned by hedge funds and other institutional investors.
General Mills, Inc. (NYSE GIS) traded down 0.09% during trading on Friday, hitting $56.17. The company had a trading volume of 5,578,144 shares. The company has a market capitalization of $32.42 billion, a price-to-earnings ratio of 20.28 and a beta of 0.61. General Mills, Inc. has a one year low of $53.24 and a one year high of $71.96. The stock has a 50-day moving average of $55.28 and a 200 day moving average of $58.21.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Equities analysts forecast that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.49%. This is an increase from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio is currently 70.76%.
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A number of analysts have issued reports on GIS shares. Royal Bank Of Canada set a $65.00 target price on General Mills and gave the company a “hold” rating in a report on Monday, April 24th. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 price objective for the company in a research report on Monday, May 1st. Credit Suisse Group reiterated a “neutral” rating and issued a $56.00 price objective (down previously from $65.00) on shares of General Mills in a research report on Friday, May 19th. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, Piper Jaffray Companies began coverage on General Mills in a research report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. General Mills has an average rating of “Hold” and an average target price of $59.93.
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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