General Mills, Inc. (GIS) Shares Bought by Clearbridge Investments LLC
Clearbridge Investments LLC boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 0.9% during the first quarter, Holdings Channel reports. The firm owned 953,728 shares of the company’s stock after buying an additional 8,076 shares during the period. Clearbridge Investments LLC’s holdings in General Mills were worth $56,279,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Laurel Wealth Advisors Inc. purchased a new stake in shares of General Mills during the first quarter worth about $207,000. Sowell Financial Services LLC boosted its stake in shares of General Mills by 5.8% in the first quarter. Sowell Financial Services LLC now owns 11,990 shares of the company’s stock worth $682,000 after buying an additional 657 shares during the period. Patten Group Inc. boosted its stake in shares of General Mills by 0.7% in the first quarter. Patten Group Inc. now owns 8,521 shares of the company’s stock worth $491,000 after buying an additional 63 shares during the period. Piedmont Investment Advisors LLC boosted its stake in shares of General Mills by 1.1% in the first quarter. Piedmont Investment Advisors LLC now owns 170,723 shares of the company’s stock worth $10,074,000 after buying an additional 1,825 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of General Mills during the first quarter worth about $237,000. 71.46% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (GIS) traded down 0.85% during trading on Friday, hitting $57.08. The stock had a trading volume of 1,847,009 shares. General Mills, Inc. has a one year low of $53.24 and a one year high of $71.96. The firm’s 50-day moving average is $55.17 and its 200-day moving average is $57.80. The firm has a market cap of $32.94 billion, a P/E ratio of 20.61 and a beta of 0.61.
General Mills (NYSE:GIS) last issued its quarterly earnings data 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. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities research analysts forecast that General Mills, Inc. will post $3.11 EPS for the current year.
The firm 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 an increase from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.40%. General Mills’s payout ratio is currently 70.76%.
A number of brokerages recently issued reports on GIS. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. Piper Jaffray Companies set a $56.00 target price on General Mills and gave the company a “sell” rating in a research report on Monday, August 7th. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada set a $62.00 price objective on General Mills and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $58.00 price objective (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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