General Mills, Inc. (GIS) Stake Maintained by Taurus Asset Management LLC
Taurus Asset Management LLC continued to hold its position in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,000 shares of the company’s stock at the close of the second quarter. Taurus Asset Management LLC’s holdings in General Mills were worth $222,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its position in General Mills by 40.3% in the 2nd quarter. Ballentine Partners LLC now owns 5,630 shares of the company’s stock valued at $311,000 after acquiring an additional 1,618 shares during the period. Highstreet Asset Management Inc. acquired a new position in General Mills during the 2nd quarter worth $274,000. GW Henssler & Associates Ltd. boosted its position in General Mills by 5.7% during the 2nd quarter. GW Henssler & Associates Ltd. now owns 51,418 shares of the company’s stock worth $2,849,000 after acquiring an additional 2,758 shares during the period. Camden National Bank boosted its position in General Mills by 5.2% during the 2nd quarter. Camden National Bank now owns 131,965 shares of the company’s stock worth $7,311,000 after acquiring an additional 6,548 shares during the period. Finally, Allegis Investment Advisors LLC acquired a new position in General Mills during the 2nd quarter worth $265,000. Institutional investors and hedge funds own 70.45% of the company’s stock.
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General Mills, Inc. (NYSE:GIS) opened at 51.76 on Monday. The stock has a market capitalization of $29.42 billion, a P/E ratio of 18.55 and a beta of 0.62. The stock has a 50 day moving average of $55.75 and a 200 day moving average of $56.75. General Mills, Inc. has a 52-week low of $50.40 and a 52-week high of $64.18.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post $3.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s dividend payout ratio (DPR) is currently 70.25%.
Several research firms have recently issued reports on GIS. Credit Suisse Group reissued a “neutral” rating and issued a $53.00 price target on shares of General Mills in a research note on Monday, September 25th. Wells Fargo & Company cut their price objective on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a research note on Friday, September 22nd. Piper Jaffray Companies restated a “sell” rating and set a $53.00 price objective on shares of General Mills in a research note on Thursday, September 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $57.00 price objective (down previously from $60.00) on shares of General Mills in a report on Thursday, September 21st. Finally, UBS AG reiterated a “neutral” rating and issued a $55.00 target price (down previously from $58.00) on shares of General Mills in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $56.75.
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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