Delta Lloyd Asset Management N.V. Purchases New Position in General Mills, Inc. (GIS)
Delta Lloyd Asset Management N.V. purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 95,286 shares of the company’s stock, valued at approximately $5,279,000.
Other hedge funds have also recently bought and sold shares of the company. Boston Advisors LLC boosted its stake in General Mills by 1.8% in the 2nd quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock worth $1,156,000 after purchasing an additional 375 shares during the period. Bfsg LLC bought a new position in General Mills in the 1st quarter worth about $2,843,000. PVG Asset Management Corp bought a new position in General Mills in the 1st quarter worth about $6,352,000. Renaissance Technologies LLC boosted its stake in General Mills by 146.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock worth $118,274,000 after purchasing an additional 1,190,200 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in General Mills by 18.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 65,472 shares of the company’s stock worth $3,627,000 after purchasing an additional 10,250 shares during the period. Institutional investors own 70.45% of the company’s stock.
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Several brokerages have commented on GIS. Royal Bank Of Canada cut their target price 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 restated a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. UBS AG restated a “neutral” rating and issued a $58.00 target price (down previously from $61.00) on shares of General Mills in a research note on Friday, June 30th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Wells Fargo & Company cut their target price 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 equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. General Mills has a consensus rating of “Hold” and an average target price of $56.75.
General Mills, Inc. (NYSE GIS) opened at 51.53 on Monday. The stock has a market capitalization of $29.29 billion, a PE ratio of 18.46 and a beta of 0.62. General Mills, Inc. has a one year low of $50.13 and a one year high of $64.06. The company’s 50 day moving average price is $53.11 and its 200-day moving average price is $55.65.
General Mills (NYSE:GIS) last announced its quarterly 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 net margin of 10.68% and a return on equity of 39.82%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the company posted $0.78 earnings per share. General Mills’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts expect that General Mills, Inc. will post $3.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, October 6th. General Mills’s payout ratio is 70.25%.
About General Mills
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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