General Mills, Inc. (GIS) Shares Sold by Pax World Management LLC
Pax World Management LLC cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 91.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,709 shares of the company’s stock after selling 240,392 shares during the period. Pax World Management LLC’s holdings in General Mills were worth $1,258,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. grew its position in General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares during the last quarter. Winslow Evans & Crocker Inc. grew its position in General Mills by 2.9% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after acquiring an additional 69 shares during the last quarter. Hanson McClain Inc. grew its position in General Mills by 1.5% during the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after acquiring an additional 35 shares during the last quarter. IHT Wealth Management LLC grew its position in General Mills by 33.4% during the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after acquiring an additional 627 shares during the last quarter. Finally, Assetmark Inc. grew its position in General Mills by 11.2% during the 1st quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 70.45% of the company’s stock.
A number of equities research analysts recently commented on GIS shares. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Consumer Edge upgraded General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $52.00 price objective (down from $59.00) on shares of General Mills in a research report on Friday, June 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 price objective (down from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Finally, Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $57.82 price objective on the stock in a research report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. General Mills has an average rating of “Hold” and an average target price of $56.75.
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General Mills, Inc. (NYSE GIS) opened at 52.01 on Thursday. The firm has a market cap of $29.56 billion, a P/E ratio of 18.63 and a beta of 0.61. General Mills, Inc. has a 1-year low of $50.40 and a 1-year high of $64.06. The stock has a 50 day moving average price of $54.37 and a 200-day moving average price of $56.09.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post $3.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.49 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.77%. General Mills’s dividend 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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