1st Global Advisors Inc. Purchases Shares of 46,930 General Mills, Inc. (GIS)
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.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/11/15/1st-global-advisors-inc-purchases-shares-of-46930-general-mills-inc-gis.html.
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.
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with MarketBeat.com's FREE daily email newsletter.