General Mills, Inc. (GIS) Position Cut by Amalgamated Bank
Amalgamated Bank reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 30.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,012 shares of the company’s stock after selling 19,364 shares during the period. Amalgamated Bank’s holdings in General Mills were worth $2,656,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Hanson McClain Inc. increased its stake in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares in the last quarter. Assetmark Inc. increased its stake in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of General Mills during the first quarter worth $179,000. Fort Pitt Capital Group LLC bought a new stake in shares of General Mills during the first quarter worth $210,000. Finally, Vigilant Capital Management LLC increased its stake in shares of General Mills by 5.7% in the first quarter. Vigilant Capital Management LLC now owns 3,718 shares of the company’s stock worth $219,000 after buying an additional 200 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (NYSE:GIS) traded down 0.0938% on Tuesday, hitting $54.2291. 1,177,421 shares of the company traded hands. The firm’s 50 day moving average price is $55.47 and its 200-day moving average price is $57.57. The stock has a market capitalization of $31.30 billion, a price-to-earnings ratio of 19.5773 and a beta of 0.61. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $71.68.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts expect that General Mills, Inc. will post $3.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.61%. This is an increase from General Mills’s previous quarterly dividend of $0.48. General Mills’s payout ratio is currently 70.76%.
Several research firms have commented on GIS. UBS AG reissued a “neutral” rating and set a $61.00 price target (down from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Piper Jaffray Companies set a $56.00 price target on shares of General Mills and gave the stock a “sell” rating in a research note on Monday, August 7th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.93.
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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