Shell Asset Management Co. Acquires 456,873 Shares of General Mills, Inc. (GIS)
Shell Asset Management Co. grew its holdings in General Mills, Inc. (NYSE:GIS) by 183.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 706,334 shares of the company’s stock after acquiring an additional 456,873 shares during the period. General Mills accounts for approximately 0.6% of Shell Asset Management Co.’s holdings, making the stock its 24th largest position. Shell Asset Management Co. owned about 0.12% of General Mills worth $35,635,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Lenox Wealth Advisors Inc. grew its position in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares in the last quarter. Winslow Evans & Crocker Inc. grew its position in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after acquiring an additional 69 shares in the last quarter. IHT Wealth Management LLC grew its position in General Mills by 33.4% in the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after acquiring an additional 627 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in General Mills in the second quarter worth approximately $158,000. Finally, Lenox Wealth Management Inc. grew its position in General Mills by 0.3% in the second quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock worth $180,000 after acquiring an additional 11 shares in the last quarter. 69.88% of the stock is owned by institutional investors.
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Several analysts have commented on GIS shares. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Jefferies Group LLC started coverage on shares of General Mills in a research report on Friday, October 20th. They issued a “hold” rating and a $56.00 target price for the company. Royal Bank Of Canada set a $62.00 target price on shares of General Mills and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Consumer Edge raised shares of General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $52.00 target price (down from $55.00) on shares of General Mills in a research report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.60.
General Mills, Inc. (NYSE:GIS) opened at $53.72 on Friday. The company has a market cap of $30,531.17, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.00 and a beta of 0.63. General Mills, Inc. has a one year low of $49.65 and a one year high of $64.06. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. General Mills’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. equities analysts predict that General Mills, Inc. will post 3.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, October 6th. General Mills’s payout ratio is currently 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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