General Mills, Inc. (GIS) Shares Bought by Community Bank N.A.
Community Bank N.A. raised its holdings in General Mills, Inc. (NYSE:GIS) by 15.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,841 shares of the company’s stock after acquiring an additional 5,740 shares during the quarter. Community Bank N.A.’s holdings in General Mills were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of GIS. Flossbach Von Storch AG purchased a new stake in General Mills during the second quarter valued at about $227,578,000. Morgan Stanley lifted its position in shares of General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after purchasing an additional 1,603,577 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 purchasing an additional 1,449,632 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock worth $118,274,000 after purchasing an additional 1,190,200 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position 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 purchasing an additional 660,726 shares in the last quarter. 69.38% of the stock is owned by institutional investors.
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A number of research firms have recently issued reports on GIS. Royal Bank Of Canada reduced their price target on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating for the company in a research report on Thursday, June 29th. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. UBS AG reissued a “neutral” rating and issued a $58.00 price target (down from $61.00) on shares of General Mills in a research report on Friday, June 30th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Wells Fargo & Company reduced their price target on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research report on Friday, September 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.75.
Shares of General Mills, Inc. (NYSE GIS) opened at 51.76 on Friday. General Mills, Inc. has a 52 week low of $50.40 and a 52 week high of $65.24. The firm has a market cap of $29.42 billion, a P/E ratio of 18.55 and a beta of 0.62. The stock has a 50 day moving average of $55.75 and a 200 day moving average of $56.75.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities analysts forecast that General Mills, Inc. will post $3.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s payout ratio is presently 70.25%.
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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