General Mills, Inc. (GIS) Shares Sold by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. lowered its holdings in General Mills, Inc. (NYSE:GIS) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,472 shares of the company’s stock after selling 1,878 shares during the quarter. Pinnacle Associates Ltd.’s holdings in General Mills were worth $4,791,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Lenox Wealth Advisors Inc. raised its position in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the period. LLBH Private Wealth Management LLC raised its position in General Mills by 0.6% in the second quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock valued at $241,000 after purchasing an additional 25 shares during the period. Davis R M Inc. raised its position in General Mills by 0.8% in the second quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock valued at $233,000 after purchasing an additional 34 shares during the period. Hanson McClain Inc. raised its position in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after purchasing an additional 35 shares during the period. Finally, Smith Salley & Associates raised its position in General Mills by 0.8% in the first quarter. Smith Salley & Associates now owns 5,540 shares of the company’s stock valued at $327,000 after purchasing an additional 42 shares during the period. Institutional investors own 70.45% of the company’s stock.
General Mills, Inc. (NYSE:GIS) opened at 51.81 on Tuesday. General Mills, Inc. has a 1-year low of $50.13 and a 1-year high of $64.06. The firm has a market capitalization of $29.45 billion, a PE ratio of 18.56 and a beta of 0.62. The company’s 50-day moving average price is $53.11 and its 200 day moving average price is $55.65.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the 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 company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
A number of equities research analysts have commented on the company. Royal Bank Of Canada reduced their target price on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 29th. BMO Capital Markets restated a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. UBS AG restated a “neutral” rating and issued a $58.00 target price (down previously from $61.00) on shares of General Mills in a research report on Friday, June 30th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Wells Fargo & Company dropped their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $56.75.
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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