Garrison Financial Corp Purchases New Stake in General Mills Inc. (GIS)
Garrison Financial Corp bought a new stake in General Mills Inc. (NYSE:GIS) during the second quarter, Holdings Channel reports. The firm bought 3,122 shares of the company’s stock, valued at approximately $223,000.
Several other large investors have also recently bought and sold shares of the company. Headinvest LLC raised its stake in General Mills by 12.1% in the first quarter. Headinvest LLC now owns 5,568 shares of the company’s stock valued at $353,000 after buying an additional 600 shares during the last quarter. PGGM Investments raised its stake in shares of General Mills by 1.7% in the first quarter. PGGM Investments now owns 974,288 shares of the company’s stock worth $61,721,000 after buying an additional 16,618 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in shares of General Mills by 4.1% in the first quarter. Duncker Streett & Co. Inc. now owns 7,068 shares of the company’s stock worth $448,000 after buying an additional 278 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of General Mills by 0.4% in the first quarter. Delta Asset Management LLC TN now owns 289,305 shares of the company’s stock worth $18,327,000 after buying an additional 1,222 shares in the last quarter. Finally, PacWest Financial Management Inc raised its stake in shares of General Mills by 101.8% in the first quarter. PacWest Financial Management Inc now owns 29,136 shares of the company’s stock worth $1,845,000 after buying an additional 14,696 shares in the last quarter. 70.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills Inc. (NYSE:GIS) remained flat at $63.88 during trading on Monday. The company had a trading volume of 2,758,782 shares. General Mills Inc. has a one year low of $53.53 and a one year high of $72.95. The stock’s 50 day moving average price is $67.77 and its 200-day moving average price is $66.29. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of 23.23 and a beta of 0.46.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The firm had revenue of $3.91 billion for the quarter. During the same period last year, the firm posted $0.79 earnings per share. General Mills’s quarterly revenue was down 7.3% compared to the same quarter last year. On average, equities analysts anticipate that General Mills Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.01%. The ex-dividend date is Wednesday, October 5th. General Mills’s dividend payout ratio (DPR) is presently 69.82%.
A number of brokerages have commented on GIS. Goldman Sachs Group Inc. reissued a “sell” rating and set a $61.00 price objective (up previously from $60.00) on shares of General Mills in a report on Friday, July 15th. Citigroup Inc. reissued a “buy” rating and set a $83.00 price objective (up previously from $76.00) on shares of General Mills in a report on Friday, July 15th. Morgan Stanley reissued a “hold” rating on shares of General Mills in a report on Sunday, July 17th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Tuesday, July 5th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of General Mills in a report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and an average price target of $68.22.
In other news, VP Jerald A. Young sold 27,890 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $72.03, for a total transaction of $2,008,916.70. Following the transaction, the vice president now directly owns 86,271 shares of the company’s stock, valued at $6,214,100.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $72.32, for a total value of $723,200.00. Following the transaction, the director now directly owns 71,240 shares in the company, valued at $5,152,076.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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