General Mills, Inc. (GIS) Shares Bought by Summit X LLC
Summit X LLC increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,688 shares of the company’s stock after acquiring an additional 1,568 shares during the quarter. Summit X LLC’s holdings in General Mills were worth $710,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after acquiring an additional 533,919 shares in the last quarter. American Century Companies Inc. raised its stake in General Mills by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock worth $539,908,000 after acquiring an additional 659,156 shares in the last quarter. Morgan Stanley raised its stake in General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after acquiring an additional 1,603,577 shares in the last quarter. Geode Capital Management LLC raised its stake in General Mills by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after acquiring an additional 295,119 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in General Mills by 17.0% during the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock worth $268,283,000 after acquiring an additional 660,726 shares in the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.
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A number of research analysts have commented on the stock. Societe Generale upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Royal Bank Of Canada set a $58.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Monday, October 23rd. Jefferies Group LLC assumed coverage on shares of General Mills in a research note on Friday, October 20th. They issued a “hold” rating and a $56.00 price objective on the stock. Finally, Susquehanna Bancshares Inc set a $56.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.60.
Shares of General Mills, Inc. (NYSE GIS) opened at $53.72 on Monday. The company has a market cap of $30,531.14, a PE ratio of 17.85, a P/E/G ratio of 2.00 and a beta of 0.63. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $64.06. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.83.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. analysts forecast that General Mills, Inc. will post 3.1 EPS for the current year.
The business also recently disclosed 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. This represents a $1.96 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Friday, October 6th. General Mills’s dividend payout ratio is currently 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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