1st Global Advisors Inc. purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 46,930 shares of the company’s stock, valued at approximately $2,600,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of General Mills by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after buying an additional 533,919 shares during the period. American Century Companies Inc. boosted its holdings in shares of General Mills by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock valued at $539,908,000 after buying an additional 659,156 shares during the period. Morgan Stanley boosted its holdings in shares of General Mills by 29.4% in the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after buying an additional 1,603,577 shares during the period. Geode Capital Management LLC boosted its holdings in shares of General Mills by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after buying an additional 295,119 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of General Mills by 17.0% in the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after buying an additional 660,726 shares during the period. 69.88% of the stock is owned by institutional investors and hedge funds.

Shares of General Mills, Inc. (NYSE:GIS) opened at $54.12 on Wednesday. General Mills, Inc. has a 52-week low of $49.65 and a 52-week high of $64.06. The company has a market cap of $30,104.89, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. sell-side analysts anticipate that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.62%. General Mills’s payout ratio is currently 70.25%.

Several analysts recently weighed in on GIS shares. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Friday, September 15th. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Citigroup Inc. reiterated a “buy” rating and issued a $67.00 price objective on shares of General Mills in a research report on Thursday, September 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 price objective (down from $55.00) on shares of General Mills in a research report on Thursday, September 21st. Finally, Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $58.00 price objective on shares of General Mills in a research report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.60.

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General Mills 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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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