General Mills, Inc. (GIS) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,893 shares of the company’s stock after selling 1,002 shares during the period. Tocqueville Asset Management L.P.’s holdings in General Mills were worth $2,542,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Flossbach Von Storch AG acquired a new position in General Mills during the second quarter worth approximately $227,578,000. Morgan Stanley increased its holdings in shares of General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after purchasing an additional 1,603,577 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after purchasing an additional 1,449,632 shares during the period. Renaissance Technologies LLC increased its holdings in shares of General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after purchasing an additional 1,190,200 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of General Mills by 17.0% in the first quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after purchasing an additional 660,726 shares during the period. 70.45% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on GIS. Royal Bank Of Canada dropped their target price on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, June 29th. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG reissued a “neutral” rating and issued a $58.00 target price (down previously from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Wells Fargo & Company dropped their target price on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus price target of $56.75.
General Mills, Inc. (NYSE GIS) opened at 52.09 on Friday. General Mills, Inc. has a one year low of $50.40 and a one year high of $64.06. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 18.66 and a beta of 0.61. The company’s 50-day moving average price is $54.22 and its 200-day moving average price is $56.06.
General Mills (NYSE:GIS) last posted its earnings results 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio is currently 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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