Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in General Mills, Inc. (NYSE:GIS) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,614 shares of the company’s stock after buying an additional 2,953 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Mills were worth $5,852,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of GIS. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of General Mills during the second quarter valued at about $107,000. Lenox Wealth Advisors Inc. raised its position in shares of General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares in the last quarter. Advisory Services Network LLC raised its position in shares of General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock valued at $127,000 after buying an additional 48 shares in the last quarter. Hanson & Doremus Investment Management raised its position in shares of General Mills by 5.7% in the second quarter. Hanson & Doremus Investment Management now owns 1,866 shares of the company’s stock valued at $133,000 after buying an additional 100 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new position in shares of General Mills during the second quarter valued at about $150,000. Institutional investors own 69.24% of the company’s stock.
General Mills, Inc. (NYSE:GIS) traded up 0.45% during mid-day trading on Wednesday, hitting $60.72. The stock had a trading volume of 1,263,965 shares. The company’s 50 day moving average is $62.12 and its 200-day moving average is $65.66. General Mills, Inc. has a 52 week low of $53.53 and a 52 week high of $72.95. The stock has a market capitalization of $35.22 billion, a P/E ratio of 22.67 and a beta of 0.54.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, December 20th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. On average, analysts expect that General Mills, Inc. will post $3.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.18%. General Mills’s dividend payout ratio (DPR) is currently 71.64%.
Several equities research analysts have commented on GIS shares. Credit Suisse Group restated a “hold” rating and issued a $68.00 target price on shares of General Mills in a research note on Thursday, September 22nd. Zacks Investment Research cut General Mills from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. set a $65.00 target price on General Mills and gave the company a “sell” rating in a research note on Thursday, September 22nd. Deutsche Bank AG restated a “hold” rating and issued a $67.00 target price on shares of General Mills in a research note on Wednesday, September 14th. Finally, Barclays PLC cut their target price on General Mills from $66.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.00.
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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