State Street Corp Sells 37,894 Shares of General Mills, Inc. (GIS)
State Street Corp cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 36,585,988 shares of the company’s stock after selling 37,894 shares during the period. State Street Corp owned approximately 0.06% of General Mills worth $2,158,947,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Cribstone Capital Management LLC increased its position in 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 in the last quarter. Commonwealth Financial Services LLC increased its position in 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 in the last quarter. Hanson McClain Inc. increased its position in 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 in the last quarter. Assetmark Inc. increased its position in 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 in the last quarter. Finally, Advisory Services Network LLC purchased a new position in General Mills during the first quarter valued at approximately $179,000. 70.97% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (NYSE:GIS) traded up 0.23% during mid-day trading on Thursday, hitting $55.90. The company had a trading volume of 710,746 shares. General Mills, Inc. has a 12 month low of $53.24 and a 12 month high of $71.96. The company has a market cap of $32.26 billion, a PE ratio of 20.18 and a beta of 0.61. The firm has a 50-day moving average of $54.98 and a 200-day moving average of $58.01.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, analysts expect that General Mills, Inc. will post $3.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid 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 yield of 3.51%. The ex-dividend date of this dividend was Thursday, July 6th. General Mills’s dividend payout ratio is presently 70.76%.
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GIS has been the subject of several recent research reports. Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $58.98 price objective for the company in a research note on Monday, May 1st. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price objective (down from $58.00) on shares of General Mills in a research note on Sunday, June 25th. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and issued a $67.00 price objective on shares of General Mills in a research note on Thursday, June 15th. Finally, Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target 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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