Scopus Asset Management L.P. Acquires Shares of 150,000 General Mills, Inc. (GIS)
Scopus Asset Management L.P. acquired a new position in General Mills, Inc. (NYSE:GIS) during the first quarter, Holdings Channel reports. The fund acquired 150,000 shares of the company’s stock, valued at approximately $8,852,000.
Other hedge funds also recently added to or reduced their stakes in the company. Alpha Windward LLC boosted its stake in General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock worth $241,000 after buying an additional 34 shares during the last quarter. Tompkins Financial Corp boosted its stake in General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock worth $372,000 after buying an additional 162 shares during the last quarter. Integrated Wealth Management boosted its stake in General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock worth $519,000 after buying an additional 54 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in General Mills by 1.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 15,772 shares of the company’s stock worth $870,000 after buying an additional 252 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in General Mills during the first quarter worth $498,000. 70.97% of the stock is currently owned by institutional investors.
General Mills, Inc. (NYSE:GIS) traded up 0.53% during trading on Friday, reaching $56.59. 3,702,017 shares of the company were exchanged. General Mills, Inc. has a 52-week low of $53.24 and a 52-week high of $71.96. The stock has a market capitalization of $32.66 billion, a PE ratio of 20.43 and a beta of 0.61. The firm’s 50 day moving average is $55.00 and its 200 day moving average is $57.96.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts expect that General Mills, Inc. will post $3.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 3.46%. General Mills’s dividend payout ratio (DPR) is currently 70.76%.
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GIS has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada set a $62.00 price objective on shares of General Mills and gave the stock a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $57.82 price objective on the stock in a report on Tuesday, June 27th. Finally, Stifel Nicolaus cut their target price on shares of General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, June 29th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.93.
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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