General Mills, Inc. (GIS) Holdings Boosted by United Services Automobile Association
United Services Automobile Association grew its position in General Mills, Inc. (NYSE:GIS) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,594 shares of the company’s stock after acquiring an additional 12,536 shares during the quarter. United Services Automobile Association’s holdings in General Mills were worth $12,601,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of General Mills by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 452,033 shares of the company’s stock valued at $19,400,000 after acquiring an additional 8,789 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of General Mills by 8.1% in the 3rd quarter. Blair William & Co. IL now owns 93,512 shares of the company’s stock valued at $4,014,000 after acquiring an additional 6,972 shares during the last quarter. Baird Financial Group Inc. grew its stake in General Mills by 13.3% during the 3rd quarter. Baird Financial Group Inc. now owns 172,713 shares of the company’s stock worth $7,370,000 after buying an additional 20,242 shares during the last quarter. Mandatum Life Insurance Co Ltd grew its stake in General Mills by 64.3% during the 3rd quarter. Mandatum Life Insurance Co Ltd now owns 13,569 shares of the company’s stock worth $582,000 after buying an additional 5,309 shares during the last quarter. Finally, Goelzer Investment Management Inc. grew its stake in General Mills by 30.5% during the 3rd quarter. Goelzer Investment Management Inc. now owns 8,565 shares of the company’s stock worth $368,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 68.67% of the company’s stock.
GIS has been the subject of a number of recent research reports. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Royal Bank of Canada restated a “sector perform” rating and set a $52.00 price objective on shares of General Mills in a research note on Monday, September 17th. Morgan Stanley initiated coverage on General Mills in a research note on Monday, September 17th. They set an “equal weight” rating and a $48.00 price objective for the company. Finally, Credit Suisse Group set a $46.00 price objective on General Mills and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.06.
General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 5.09%. General Mills’s payout ratio is 63.02%.
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General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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