Reliant Investment Management LLC Has $222,000 Holdings in General Mills, Inc. (GIS)
Reliant Investment Management LLC held its stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the company’s stock at the close of the 2nd quarter. Reliant Investment Management LLC’s holdings in General Mills were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Boston Advisors LLC lifted its holdings in shares of General Mills by 1.8% during the 2nd 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 during the last quarter. Bfsg LLC purchased a new stake in shares of General Mills during the 1st quarter valued at $2,843,000. PVG Asset Management Corp purchased a new stake in shares of General Mills during the 1st quarter valued at $6,352,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of General Mills by 18.6% during the 2nd 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 during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of General Mills by 146.2% during the 1st 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. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) opened at 52.01 on Friday. The firm’s 50-day moving average price is $52.87 and its 200 day moving average price is $55.45. The firm has a market capitalization of $29.56 billion, a P/E ratio of 18.63 and a beta of 0.61. General Mills, Inc. has a 12 month low of $50.13 and a 12 month high of $64.06.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 20th. The company reported $0.71 EPS 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 during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company posted $0.78 earnings per share. General Mills’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts anticipate that General Mills, Inc. will post $3.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.49 dividend. 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 payout ratio is 70.25%.
Several analysts have recently commented on the company. Royal Bank Of Canada decreased their price objective on General Mills from $65.00 to $62.00 and set a “sector perform” rating for the company in a report on Thursday, June 29th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG reiterated a “neutral” rating and set a $58.00 price objective (down previously from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Wells Fargo & Co decreased their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a report on Friday, September 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $56.60.
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General Mills 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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