Smith Chas P & Associates PA Cpas Boosts Holdings in General Mills, Inc. (GIS)
Smith Chas P & Associates PA Cpas raised its position in General Mills, Inc. (NYSE:GIS) by 3,092.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 173,976 shares of the company’s stock after purchasing an additional 168,526 shares during the period. General Mills comprises approximately 1.4% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 29th biggest holding. Smith Chas P & Associates PA Cpas’ holdings in General Mills were worth $9,638,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GIS. Flossbach Von Storch AG acquired a new stake in General Mills in the second quarter valued at $227,578,000. Morgan Stanley grew its holdings in General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after purchasing an additional 1,603,577 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in 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 valued at $413,862,000 after purchasing an additional 1,449,632 shares during the last quarter. Renaissance Technologies LLC grew its holdings in General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after purchasing an additional 1,190,200 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in General Mills by 17.0% in the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after purchasing an additional 660,726 shares during the last quarter. 70.45% of the stock is currently owned by institutional investors.
Several analysts have weighed in on the company. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and issued a $67.00 target price on shares of General Mills in a report on Thursday, June 15th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Piper Jaffray Companies reissued an “underweight” rating and issued a $56.00 target price (down previously from $57.00) on shares of General Mills in a report on Monday, June 19th. Finally, UBS AG reissued a “neutral” rating and issued a $61.00 target price (down previously from $63.00) on shares of General Mills in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $56.75.
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Shares of General Mills, Inc. (NYSE GIS) opened at 52.01 on Thursday. General Mills, Inc. has a 52 week low of $50.40 and a 52 week high of $64.06. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 18.63 and a beta of 0.61. The firm has a 50-day moving average price of $54.37 and a 200-day moving average price of $56.09.
General Mills (NYSE:GIS) last issued its quarterly 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). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that General Mills, Inc. will post $3.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.77%. General Mills’s dividend payout ratio is 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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