General Mills, Inc. (GIS) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,734,936 shares of the company’s stock after buying an additional 129,560 shares during the period. Schwab Charles Investment Management Inc.’s holdings in General Mills were worth $161,389,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Cribstone Capital Management LLC raised its stake in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock worth $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC raised its stake 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 worth $130,000 after buying an additional 2,058 shares during the last quarter. Hanson McClain Inc. raised its stake in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the last quarter. Assetmark Inc. raised its stake in General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in General Mills during the first quarter worth $179,000. 70.97% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (NYSE:GIS) traded up 0.53% on Friday, hitting $56.59. 3,702,017 shares of the stock were exchanged. The company’s 50 day moving average is $55.00 and its 200 day moving average is $57.96. The stock has a market cap of $32.66 billion, a PE ratio of 20.43 and a beta of 0.61. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $71.96.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. General Mills’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, equities research analysts expect that General Mills, Inc. will post $3.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. General Mills’s payout ratio is 70.76%.
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A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of 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 reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday. UBS AG reaffirmed a “neutral” rating and set a $58.00 price target (down from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, Piper Jaffray Companies reaffirmed an “underweight” rating and set a $56.00 price target (down from $57.00) on shares of General Mills in a report on Monday, June 19th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The stock 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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