Eads & Heald Investment Counsel Has $1,991,000 Stake in General Mills, Inc. (GIS)
Eads & Heald Investment Counsel decreased its position in General Mills, Inc. (NYSE:GIS) by 3.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,918 shares of the company’s stock after selling 908 shares during the period. General Mills comprises 1.4% of Eads & Heald Investment Counsel’s portfolio, making the stock its 13th largest position. Eads & Heald Investment Counsel’s holdings in General Mills were worth $1,991,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of General Mills by 2.1% in the first quarter. State Street Corp now owns 36,502,697 shares of the company’s stock worth $2,312,451,000 after buying an additional 736,454 shares during the period. Kings Point Capital Management boosted its stake in shares of General Mills by 4.1% in the first quarter. Kings Point Capital Management now owns 52,592 shares of the company’s stock worth $3,332,000 after buying an additional 2,087 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of General Mills during the first quarter worth approximately $1,081,000. BB&T Securities LLC boosted its stake in shares of General Mills by 147.5% in the first quarter. BB&T Securities LLC now owns 370,647 shares of the company’s stock worth $23,480,000 after buying an additional 220,915 shares during the period. Finally, Bernicke & Associates LTD boosted its stake in shares of General Mills by 4.1% in the first quarter. Bernicke & Associates LTD now owns 16,831 shares of the company’s stock worth $1,066,000 after buying an additional 658 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (NYSE:GIS) traded up 0.10% during mid-day trading on Monday, reaching $61.84. The company’s stock had a trading volume of 1,356,935 shares. The firm has a 50 day moving average price of $65.51 and a 200 day moving average price of $66.25. The company has a market cap of $36.57 billion, a price-to-earnings ratio of 22.49 and a beta of 0.46. General Mills, Inc. has a 52-week low of $53.53 and a 52-week high of $72.95.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company earned $3.91 billion during the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post $3.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 annualized dividend and a dividend yield of 3.11%. General Mills’s dividend payout ratio is presently 69.82%.
A number of research analysts have issued reports on GIS shares. Zacks Investment Research cut General Mills from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Consumer Edge cut General Mills from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. Deutsche Bank AG reissued a “hold” rating and issued a $67.00 target price on shares of General Mills in a research note on Wednesday, September 14th. S&P Equity Research reissued a “buy” rating and issued a $70.00 target price on shares of General Mills in a research note on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and issued a $61.00 target price (up from $60.00) on shares of General Mills in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $68.22.
In other news, insider John R. Church sold 99,373 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $71.17, for a total value of $7,072,376.41. Following the completion of the sale, the insider now directly owns 108,311 shares in the company, valued at approximately $7,708,493.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey L. Harmening sold 33,150 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $71.05, for a total value of $2,355,307.50. Following the completion of the sale, the chief operating officer now owns 133,106 shares of the company’s stock, valued at $9,457,181.30. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
General Mills Company 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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