Dai Ichi Life Insurance Company Ltd Has $12.22 Million Position in General Mills, Inc. (GIS)
Dai Ichi Life Insurance Company Ltd raised its stake in General Mills, Inc. (NYSE:GIS) by 13.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 207,098 shares of the company’s stock after buying an additional 24,717 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in General Mills were worth $12,221,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock worth $413,862,000 after buying an additional 1,449,632 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of General Mills by 17.0% in the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock worth $268,283,000 after buying an additional 660,726 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of General Mills by 24.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,571,833 shares of the company’s stock worth $151,764,000 after buying an additional 508,007 shares in the last quarter. Swiss National Bank boosted its stake in General Mills by 16.8% in the first quarter. Swiss National Bank now owns 3,206,616 shares of the company’s stock worth $189,222,000 after buying an additional 461,500 shares in the last quarter. Finally, Honeywell International Inc. bought a new stake in General Mills during the first quarter worth about $26,082,000. Institutional investors and hedge funds own 71.46% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) traded down 0.75% on Friday, hitting $57.14. 4,595,632 shares of the stock were exchanged. The company has a market cap of $32.98 billion, a price-to-earnings ratio of 20.63 and a beta of 0.61. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96. The company has a 50 day moving average of $55.23 and a 200 day moving average of $57.76.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts forecast that General Mills, Inc. will post $3.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.49 per share. This is a boost from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, July 6th. General Mills’s payout ratio is presently 70.76%.
A number of research firms recently commented on GIS. UBS AG reaffirmed a “neutral” rating and set a $61.00 price target (down from $63.00) on shares of General Mills in a research report on Wednesday, June 21st. Piper Jaffray Companies set a $56.00 price target on shares of General Mills and gave the stock a “sell” rating in a research report on Monday, August 7th. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $59.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Sunday, June 25th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus 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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