General Mills, Inc. (GIS) Holdings Reduced by Bank of Nova Scotia
Bank of Nova Scotia cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,013 shares of the company’s stock after selling 2,295 shares during the quarter. Bank of Nova Scotia’s holdings in General Mills were worth $7,258,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after acquiring an additional 533,919 shares during the period. American Century Companies Inc. raised its holdings in General Mills by 7.3% during the second quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock valued at $539,908,000 after acquiring an additional 659,156 shares during the period. Morgan Stanley raised its holdings in General Mills by 29.4% during the first 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 period. Geode Capital Management LLC raised its holdings in General Mills by 5.3% during the first quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after acquiring an additional 295,119 shares during the period. Finally, Schroder Investment Management Group raised its holdings in General Mills by 17.0% during the first 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 period. 69.58% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on GIS shares. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $57.00 target price (down from $60.00) on shares of General Mills in a report on Thursday, September 21st. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $53.00 target price on shares of General Mills in a report on Thursday, September 21st. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 target price on shares of General Mills in a report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $56.60.
General Mills, Inc. (GIS) opened at $53.28 on Friday. The company has a market capitalization of $30,281.10, a PE ratio of 17.70, a P/E/G ratio of 1.99 and a beta of 0.63. General Mills, Inc. has a 12-month low of $49.65 and a 12-month high of $64.06. 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 (NYSE:GIS) last announced its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $3.79 billion. During the same quarter last year, the firm earned $0.78 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. analysts expect that General Mills, Inc. will post 3.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.68%. 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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