Fayez Sarofim & Co Has $1.65 Million Stake in General Mills, Inc. (GIS)
Fayez Sarofim & Co decreased its position in General Mills, Inc. (NYSE:GIS) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 28,036 shares of the company’s stock after selling 270 shares during the period. Fayez Sarofim & Co’s holdings in General Mills were worth $1,654,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Gulf International Bank UK Ltd boosted its position in shares of General Mills by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,424 shares of the company’s stock worth $10,823,000 after buying an additional 2,450 shares in the last quarter. National Pension Service boosted its position in shares of General Mills by 5.6% in the first quarter. National Pension Service now owns 445,939 shares of the company’s stock worth $26,342,000 after buying an additional 23,476 shares in the last quarter. Univest Corp of Pennsylvania boosted its position in shares of General Mills by 9.2% in the first quarter. Univest Corp of Pennsylvania now owns 7,760 shares of the company’s stock worth $458,000 after buying an additional 655 shares in the last quarter. First National Bank of Omaha boosted its position in shares of General Mills by 7.6% in the first quarter. First National Bank of Omaha now owns 4,200 shares of the company’s stock worth $248,000 after buying an additional 297 shares in the last quarter. Finally, TNB Financial acquired a new position in shares of General Mills during the first quarter worth approximately $498,000. Hedge funds and other institutional investors own 70.97% of the company’s stock.
General Mills, Inc. (NYSE GIS) traded up 0.07% during mid-day trading on Wednesday, reaching $55.82. 447,749 shares of the company’s stock were exchanged. The firm has a market cap of $32.21 billion, a price-to-earnings ratio of 20.15 and a beta of 0.61. The stock has a 50-day moving average of $55.07 and a 200-day moving average of $58.17. General Mills, Inc. has a 12 month low of $53.24 and a 12 month high of $71.96.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the company posted $0.66 earnings per share. General Mills’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post $3.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This is a boost from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.51%. General Mills’s dividend payout ratio is 70.76%.
A number of research analysts have commented on GIS shares. Royal Bank Of Canada set a $65.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Monday, April 24th. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target for the company in a research note on Monday, May 1st. Credit Suisse Group restated a “neutral” rating and set a $56.00 price target (down previously from $65.00) on shares of General Mills in a research note on Friday, May 19th. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Finally, Piper Jaffray Companies started coverage on shares of General Mills in a research note on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 target price for the company. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $59.93.
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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