General Mills, Inc. (GIS) Shares Bought by USS Investment Management Ltd
USS Investment Management Ltd raised its stake in General Mills, Inc. (NYSE:GIS) by 18.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,373 shares of the company’s stock after purchasing an additional 16,600 shares during the quarter. USS Investment Management Ltd’s holdings in General Mills were worth $6,003,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of General Mills by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock valued at $539,908,000 after acquiring an additional 659,156 shares in the last quarter. Morgan Stanley lifted its holdings in shares of General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after acquiring an additional 1,603,577 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of General Mills by 26.1% during the 1st quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after acquiring an additional 1,449,632 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Mills by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after acquiring an additional 295,119 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of General Mills by 17.0% during the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after acquiring an additional 660,726 shares in the last quarter. Institutional investors own 70.45% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) opened at 50.95 on Wednesday. The company’s 50-day moving average is $53.66 and its 200 day moving average is $55.82. General Mills, Inc. has a 1-year low of $50.13 and a 1-year high of $64.06. The stock has a market cap of $28.96 billion, a P/E ratio of 18.26 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. General Mills’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.
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GIS has been the topic of several recent research reports. Royal Bank Of Canada set a $62.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Friday, September 15th. Wells Fargo & Company reduced their target price on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Finally, Stifel Nicolaus reduced their target price on shares of General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $56.75.
General Mills Company Profile
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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