Page Arthur B Decreases Position in General Mills, Inc. (GIS)
Page Arthur B reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,650 shares of the company’s stock after selling 300 shares during the period. Page Arthur B’s holdings in General Mills were worth $202,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares during the period. Cribstone Capital Management LLC boosted its position in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the period. Commonwealth Financial Services LLC boosted its position in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the period. Winslow Evans & Crocker Inc. boosted its position in shares of General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after buying an additional 69 shares during the period. Finally, Hanson McClain Inc. boosted its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the period. 70.97% of the stock is owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (GIS) traded up 0.063% during midday trading on Wednesday, reaching $55.815. The company had a trading volume of 1,315,920 shares. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $71.96. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 20.150 and a beta of 0.61. The company has a 50 day moving average of $55.07 and a 200 day moving average of $58.17.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. General Mills’s revenue was down 3.1% on a year-over-year basis. Analysts anticipate that General Mills, Inc. will post $3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.49 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. General Mills’s dividend payout ratio is currently 70.76%.
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Several brokerages have weighed in on GIS. Royal Bank Of Canada dropped their price objective on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 29th. BMO Capital Markets restated a “hold” rating on shares of General Mills in a research note on Tuesday. UBS AG restated a “neutral” rating and set a $58.00 price objective (down from $61.00) on shares of General Mills in a research note on Friday, June 30th. Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Finally, Piper Jaffray Companies restated an “underweight” rating and set a $56.00 price objective (down from $57.00) on shares of General Mills in a research note on Monday, June 19th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $59.93.
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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