OMERS ADMINISTRATION Corp bought a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 68,300 shares of the company’s stock, valued at approximately $3,784,000.
Several other institutional investors have also recently bought and sold shares of GIS. Flossbach Von Storch AG purchased a new stake in shares of General Mills in the 2nd quarter valued at about $227,578,000. Federated Investors Inc. PA raised its stake in General Mills by 94.6% during the 2nd quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after acquiring an additional 2,195,397 shares during the last quarter. Morgan Stanley raised its stake in General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after acquiring an additional 1,603,577 shares during the last quarter. Bank of New York Mellon Corp raised its stake in General Mills by 26.1% during the 1st quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after acquiring an additional 1,449,632 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in General Mills by 146.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after acquiring an additional 1,190,200 shares during the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (NYSE GIS) opened at 51.27 on Friday. The firm has a market cap of $29.14 billion, a PE ratio of 18.37 and a beta of 0.61. The firm’s 50-day moving average price is $53.29 and its 200 day moving average price is $55.75. General Mills, Inc. has a 52-week low of $50.13 and a 52-week high of $64.06.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. On average, equities analysts anticipate that General Mills, Inc. will post $3.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.82%. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
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Several analysts have commented on the company. Royal Bank Of Canada reduced their price objective on General Mills from $65.00 to $62.00 and set a “sector perform” rating for the company in a research note on Thursday, June 29th. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. UBS AG reaffirmed a “neutral” rating and set a $58.00 price objective (down from $61.00) on shares of General Mills in a research note on Friday, June 30th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Wells Fargo & Company reduced their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.75.
General Mills Company 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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