Wilbanks Smith & Thomas Asset Management LLC Has $274,000 Stake in General Mills, Inc. (GIS)
Wilbanks Smith & Thomas Asset Management LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 18.5% during the first quarter, Holdings Channel reports. The firm owned 4,646 shares of the company’s stock after selling 1,056 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in General Mills were worth $274,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in GIS. Cribstone Capital Management LLC raised its stake 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 raised its stake 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. Hanson McClain Inc. raised its stake 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. Assetmark Inc. raised its stake in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock valued at $148,000 after buying an additional 253 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of General Mills during the first quarter valued at $179,000. Institutional investors own 70.97% of the company’s stock.
Shares of General Mills, Inc. (NYSE GIS) traded down 0.02% during midday trading on Wednesday, hitting $55.77. The stock had a trading volume of 541,572 shares. The stock has a 50 day moving average price of $55.07 and a 200-day moving average price of $58.17. General Mills, Inc. has a 52 week low of $53.24 and a 52 week high of $71.96. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 20.13 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the company earned $0.66 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. Equities research analysts anticipate that General Mills, Inc. will post $3.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.49 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, July 6th. General Mills’s dividend payout ratio (DPR) is currently 70.76%.
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Several analysts have recently weighed in on the company. Royal Bank Of Canada cut their price objective on General Mills from $65.00 to $62.00 and set a “sector perform” rating for the company in a report on Thursday, June 29th. BMO Capital Markets restated a “hold” rating on shares of General Mills in a report on Tuesday. UBS AG restated a “neutral” rating and issued a $58.00 price objective (down previously from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, Piper Jaffray Companies restated an “underweight” rating and issued a $56.00 price objective (down previously from $57.00) on shares of General Mills in a report 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 stock 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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