General Mills, Inc. (GIS) Holdings Boosted by Marco Investment Management LLC
Marco Investment Management LLC raised its holdings in General Mills, Inc. (NYSE:GIS) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,399 shares of the company’s stock after purchasing an additional 500 shares during the period. Marco Investment Management LLC’s holdings in General Mills were worth $2,626,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in GIS. Flossbach Von Storch AG bought a new stake in shares of General Mills in the 2nd quarter valued at approximately $227,578,000. Federated Investors Inc. PA increased its holdings in shares of General Mills by 94.6% in 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 increased its holdings in shares of General Mills by 29.4% in 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. Renaissance Technologies LLC increased its holdings in shares of General Mills by 146.2% in 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. Finally, Schroder Investment Management Group increased its holdings in shares of General Mills by 17.0% in the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after acquiring an additional 660,726 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.
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). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.79%. General Mills’s dividend payout ratio is 70.25%.
A number of equities research analysts have recently weighed in on GIS shares. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $56.00 price target on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. Finally, Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.60.
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General Mills 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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