Paradigm Asset Management Co. LLC Has $555,000 Holdings in General Mills, Inc. (GIS)
Paradigm Asset Management Co. LLC trimmed its stake in General Mills, Inc. (NYSE:GIS) by 81.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,025 shares of the company’s stock after selling 43,300 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in General Mills were worth $555,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Boston Advisors LLC grew its stake in General Mills by 1.8% in the second quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock valued at $1,156,000 after purchasing an additional 375 shares in the last quarter. Bfsg LLC bought a new position in General Mills in the first quarter valued at approximately $2,843,000. PVG Asset Management Corp bought a new position in General Mills in the first quarter valued at approximately $6,352,000. Renaissance Technologies LLC grew its stake 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in General Mills by 18.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 65,472 shares of the company’s stock valued at $3,627,000 after purchasing an additional 10,250 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Shares of General Mills, Inc. (NYSE GIS) opened at 51.40 on Monday. The company’s 50-day moving average price is $54.04 and its 200 day moving average price is $56.00. General Mills, Inc. has a 12-month low of $50.40 and a 12-month high of $64.06. The firm has a market capitalization of $29.21 billion, a PE ratio of 18.42 and a beta of 0.62.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company posted $0.78 earnings per share. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post $3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio (DPR) is 70.25%.
A number of research analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) restated a “sell” rating on shares of General Mills in a research note on Wednesday, October 4th. Credit Suisse Group restated a “neutral” rating and issued a $53.00 price target on shares of General Mills in a research note on Monday, September 25th. Wells Fargo & Company decreased their price target on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Piper Jaffray Companies restated a “sell” rating and issued a $53.00 price target on shares of General Mills in a research note on Thursday, September 21st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $57.00 price objective (down from $60.00) on shares of General Mills in a research report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus target price of $56.75.
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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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