General Mills Inc. (GIS) Stake Held by Diligent Investors LLC
Diligent Investors LLC maintained its position in General Mills Inc. (NYSE:GIS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,200 shares of the company’s stock at the end of the second quarter. Diligent Investors LLC’s holdings in General Mills were worth $228,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in GIS. GaveKal Capital LLC increased its stake in General Mills by 5.0% in the second quarter. GaveKal Capital LLC now owns 273,177 shares of the company’s stock worth $19,483,000 after buying an additional 12,990 shares during the last quarter. Panagora Asset Management Inc. increased its stake in General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares during the last quarter. Aviance Capital Management LLC increased its stake in General Mills by 36.6% in the second quarter. Aviance Capital Management LLC now owns 197,419 shares of the company’s stock worth $14,080,000 after buying an additional 52,915 shares during the last quarter. State of Alaska Department of Revenue increased its stake in General Mills by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 180,110 shares of the company’s stock worth $12,844,000 after buying an additional 9,006 shares during the last quarter. Finally, MAI Capital Management increased its stake in General Mills by 2.3% in the second quarter. MAI Capital Management now owns 4,600 shares of the company’s stock worth $328,000 after buying an additional 103 shares during the last quarter. 70.08% of the stock is currently owned by hedge funds and other institutional investors.
General Mills Inc. (NYSE:GIS) traded up 0.10% during mid-day trading on Thursday, hitting $62.42. 3,091,333 shares of the company’s stock traded hands. The stock has a market cap of $36.91 billion, a PE ratio of 22.70 and a beta of 0.45. The firm’s 50-day moving average price is $67.31 and its 200-day moving average price is $66.28. General Mills Inc. has a one year low of $53.53 and a one year high of $72.95.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping the 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 business had revenue of $3.91 billion for the quarter. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s revenue was down 7.3% on a year-over-year basis. On average, analysts forecast that General Mills Inc. will post $3.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 3.08%. General Mills’s dividend payout ratio (DPR) is currently 69.82%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price target on shares of General Mills in a research note on Friday, September 23rd. Credit Suisse Group AG reiterated a “hold” rating and set a $74.00 price objective on shares of General Mills in a research report on Thursday, September 8th. Deutsche Bank AG reiterated a “hold” rating and set a $63.00 price objective (up previously from $62.00) on shares of General Mills in a research report on Thursday, June 23rd. Finally, Bank of America Corp. upgraded shares of General Mills from an “underperform” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research report on Thursday, June 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. General Mills has a consensus rating of “Hold” and an average target price of $68.22.
In related news, Director Michael D. Rose sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the sale, the director now directly owns 79,954 shares in the company, valued at approximately $5,685,528.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jerald A. Young sold 27,890 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $72.03, for a total transaction of $2,008,916.70. Following the completion of the sale, the vice president now owns 86,271 shares in the company, valued at $6,214,100.13. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
About General Mills
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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