Murphy Capital Management Inc. Lowers Stake in General Mills, Inc. (NYSE:GIS)
Murphy Capital Management Inc. reduced its stake in General Mills, Inc. (NYSE:GIS) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,259 shares of the company’s stock after selling 2,191 shares during the period. Murphy Capital Management Inc.’s holdings in General Mills were worth $2,618,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Gulf International Bank UK Ltd boosted its stake in shares of General Mills by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,424 shares of the company’s stock valued at $10,823,000 after buying an additional 2,450 shares in the last quarter. National Pension Service boosted its stake in shares of General Mills by 5.6% in the first quarter. National Pension Service now owns 445,939 shares of the company’s stock valued at $26,342,000 after buying an additional 23,476 shares in the last quarter. First National Bank of Omaha boosted its stake in shares of General Mills by 7.6% in the first quarter. First National Bank of Omaha now owns 4,200 shares of the company’s stock valued at $248,000 after buying an additional 297 shares in the last quarter. TNB Financial purchased a new stake in shares of General Mills during the first quarter valued at $498,000. Finally, Verde Servicos Internacionais S.A. purchased a new stake in shares of General Mills during the first quarter valued at $218,000. Institutional investors and hedge funds own 70.97% of the company’s stock.
Shares of General Mills, Inc. (GIS) traded up 0.68% on Thursday, reaching $56.15. The company had a trading volume of 1,271,947 shares. The company has a 50 day moving average of $54.98 and a 200-day moving average of $58.01. General Mills, Inc. has a 52 week low of $53.24 and a 52 week high of $71.96. The company has a market capitalization of $32.40 billion, a P/E ratio of 20.27 and a beta of 0.61.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. General Mills’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. Analysts predict that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. This is an increase from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, July 6th. General Mills’s payout ratio is 70.76%.
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Several equities research analysts have weighed in on GIS shares. Royal Bank Of Canada set a $65.00 target price on General Mills and gave the stock a “hold” rating in a report on Monday, April 24th. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price for the company in a report on Monday, May 1st. Credit Suisse Group reiterated a “neutral” rating and issued a $56.00 target price (down from $65.00) on shares of General Mills in a report on Friday, May 19th. Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, Piper Jaffray Companies started coverage on General Mills in a report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 target price for the company. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. General Mills has a consensus rating of “Hold” and a consensus price target of $59.93.
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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