Cincinnati Insurance Co. Has $59,698,000 Position in General Mills, Inc. (GIS)
Cincinnati Insurance Co. continued to hold its stake in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,077,585 shares of the company’s stock at the close of the second quarter. General Mills makes up 1.9% of Cincinnati Insurance Co.’s holdings, making the stock its 21st largest position. Cincinnati Insurance Co. owned 0.19% of General Mills worth $59,698,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Lenox Wealth Advisors Inc. raised its position in shares of General Mills by 0.8% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares during the period. Hanson McClain Inc. raised its position in shares of General Mills by 1.5% in the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the period. Winslow Evans & Crocker Inc. raised its position in shares of General Mills by 2.9% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after buying an additional 69 shares during the period. Assetmark Inc. raised its position in shares of General Mills by 11.2% in the 1st quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the period. Finally, IHT Wealth Management LLC raised its position in shares of General Mills by 33.4% in the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after buying an additional 627 shares during the period. 70.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (NYSE GIS) opened at 51.27 on Friday. The firm has a market capitalization of $29.14 billion, a P/E ratio of 18.37 and a beta of 0.61. General Mills, Inc. has a 52 week low of $50.13 and a 52 week high of $64.06. The stock’s 50 day moving average price is $53.29 and its 200 day moving average price is $55.75.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during 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%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. On average, analysts predict that General Mills, Inc. will post $3.08 EPS for the current fiscal year.
The business also recently disclosed 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 annualized dividend and a dividend yield of 3.82%. General Mills’s payout ratio is 70.25%.
Several research analysts recently weighed in on GIS shares. Royal Bank Of Canada set a $62.00 target price on General Mills and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $55.00 target price (down from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $52.00 target price (down from $59.00) on shares of General Mills in a research report on Friday, June 30th. Finally, Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $57.82 target price on the stock in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.75.
ILLEGAL ACTIVITY NOTICE: This report was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/10/13/cincinnati-insurance-co-has-59698000-position-in-general-mills-inc-gis.html.
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.
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Stock Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related stocks with our FREE daily email newsletter.