First Bank & Trust reduced its stake in General Mills, Inc. (NYSE:GIS) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,896 shares of the company’s stock after selling 1,808 shares during the period. First Bank & Trust’s holdings in General Mills were worth $887,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. Dimensional Fund Advisors LP increased its stake in General Mills by 21.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,471,138 shares of the company’s stock worth $96,224,000 after acquiring an additional 433,796 shares during the last quarter. Geode Capital Management LLC increased its stake in General Mills by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock worth $281,036,000 after acquiring an additional 473,831 shares during the last quarter. Millennium Management LLC increased its stake in General Mills by 287.8% in the 4th quarter. Millennium Management LLC now owns 225,099 shares of the company’s stock worth $8,765,000 after acquiring an additional 167,054 shares during the last quarter. First Hawaiian Bank increased its stake in General Mills by 32.5% in the 1st quarter. First Hawaiian Bank now owns 6,810 shares of the company’s stock worth $352,000 after acquiring an additional 1,672 shares during the last quarter. Finally, Legacy Advisors LLC bought a new stake in General Mills in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.31% of the company’s stock.
Several equities analysts have recently weighed in on the company. Goldman Sachs Group downgraded General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price on the stock. in a research report on Tuesday, May 28th. UBS Group boosted their target price on General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Evercore ISI assumed coverage on General Mills in a research report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price on the stock. Edward Jones raised General Mills from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Finally, Zacks Investment Research reissued a “strong-buy” rating on shares of General Mills in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.66.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business earned $0.79 EPS. General Mills’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that General Mills, Inc. will post 3.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Tuesday, July 9th. General Mills’s payout ratio is currently 60.87%.
About General Mills
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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