Cibc World Markets Corp grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,352 shares of the company’s stock after buying an additional 46,334 shares during the quarter. Cibc World Markets Corp’s holdings in General Mills were worth $22,078,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Sage Financial Management Group Inc. bought a new position in shares of General Mills during the first quarter valued at about $25,000. TD Capital Management LLC grew its stake in shares of General Mills by 77.1% during the first quarter. TD Capital Management LLC now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 185 shares during the last quarter. Disciplined Investments LLC bought a new position in shares of General Mills during the first quarter valued at about $26,000. Meridian Wealth Partners LLC bought a new position in shares of General Mills during the first quarter valued at about $27,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of General Mills during the second quarter valued at about $33,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of General Mills in a report on Wednesday, June 9th. Jefferies Financial Group started coverage on shares of General Mills in a report on Wednesday, June 30th. They set a “hold” rating and a $63.00 target price for the company. Credit Suisse Group lowered shares of General Mills from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $63.00 in a report on Monday. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $65.00 target price on shares of General Mills in a report on Monday, June 28th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.89.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Tuesday, June 29th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. General Mills had a net margin of 12.91% and a return on equity of 25.61%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the business posted $1.10 earnings per share. General Mills’s quarterly revenue was down 9.9% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 3.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were issued a dividend of $0.51 per share. The ex-dividend date was Thursday, July 8th. This represents a $2.04 annualized dividend and a dividend yield of 3.47%. General Mills’s payout ratio is 53.83%.
In other news, insider Sean N. Walker sold 26,337 shares of General Mills stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $58.78, for a total transaction of $1,548,088.86. Following the completion of the transaction, the insider now directly owns 105,647 shares in the company, valued at $6,209,930.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.
General Mills Profile
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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