Sterling Capital Management LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,401 shares of the company’s stock after selling 4,119 shares during the period. Sterling Capital Management LLC’s holdings in General Mills were worth $3,457,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of GIS. Hanson McClain Inc. lifted its holdings in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of General Mills by 3.2% during the first quarter. Pacer Advisors Inc. now owns 11,735 shares of the company’s stock valued at $692,000 after purchasing an additional 365 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of General Mills by 4.5% during the first quarter. Private Advisor Group LLC now owns 45,621 shares of the company’s stock valued at $2,658,000 after purchasing an additional 1,949 shares during the last quarter. Delta Lloyd NV lifted its holdings in shares of General Mills by 8.5% during the first quarter. Delta Lloyd NV now owns 107,837 shares of the company’s stock valued at $6,202,000 after purchasing an additional 8,462 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in shares of General Mills by 2.4% during the first quarter. Peapack Gladstone Financial Corp now owns 128,967 shares of the company’s stock valued at $7,610,000 after purchasing an additional 2,991 shares during the last quarter. Institutional investors and hedge funds own 69.88% of the company’s stock.
GIS has been the subject of several recent research reports. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Jefferies Group LLC initiated coverage on shares of General Mills in a report on Friday, October 20th. They set a “hold” rating and a $56.00 target price for the company. Royal Bank Of Canada lowered their target price on shares of General Mills from $62.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, September 21st. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company lowered their target price on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a report on Friday, September 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.60.
Shares of General Mills, Inc. (NYSE GIS) opened at $52.97 on Tuesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.74 and a quick ratio of 0.47. General Mills, Inc. has a 1 year low of $49.65 and a 1 year high of $64.06. The company has a market cap of $30,281.07, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.63.
General Mills (NYSE:GIS) last posted 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 company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the firm posted $0.78 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. equities analysts expect that General Mills, Inc. will post 3.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, October 6th. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
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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