Security National Trust Co. Lowers Stake in General Mills, Inc. (GIS)
Security National Trust Co. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,706 shares of the company’s stock after selling 87 shares during the period. Security National Trust Co.’s holdings in General Mills were worth $649,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in GIS. Flossbach Von Storch AG acquired a new position in shares of General Mills in the 2nd quarter valued at $227,578,000. Morgan Stanley raised its stake in General Mills by 29.4% in the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after acquiring an additional 1,603,577 shares during the last quarter. Bank of New York Mellon Corp raised its stake in General Mills by 26.1% in the 1st quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock worth $413,862,000 after acquiring an additional 1,449,632 shares during the last quarter. Renaissance Technologies LLC raised its stake in General Mills by 146.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock worth $118,274,000 after acquiring an additional 1,190,200 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in General Mills by 17.0% during the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock worth $268,283,000 after acquiring an additional 660,726 shares during the period. 70.45% of the stock is currently owned by hedge funds and other institutional investors.
GIS has been the topic of a number of research reports. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. Susquehanna Bancshares Inc set a $59.00 target price on General Mills and gave the company a “hold” rating in a research report on Sunday, June 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $57.00 target price (down previously from $60.00) on shares of General Mills in a research report on Thursday, September 21st. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $52.00 price target (down previously from $59.00) on shares of General Mills in a report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. General Mills presently has an average rating of “Hold” and a consensus price target of $56.75.
Shares of General Mills, Inc. (NYSE:GIS) opened at 51.81 on Tuesday. General Mills, Inc. has a 52-week low of $50.40 and a 52-week 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 stock’s 50 day moving average price is $54.70 and its 200-day moving average price is $56.19.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, October 6th. General Mills’s payout ratio is 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.
Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.