Sabal Trust CO lowered its stake in General Mills, Inc. (NYSE:GIS) by 37.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,841 shares of the company’s stock after selling 4,025 shares during the period. Sabal Trust CO’s holdings in General Mills were worth $379,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares during the last quarter. Cribstone Capital Management LLC boosted its position in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock worth $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC boosted its position in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock worth $130,000 after buying an additional 2,058 shares during the last quarter. Hanson McClain Inc. boosted its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.
Shares of General Mills, Inc. (NYSE GIS) traded down 0.75% during mid-day trading on Friday, hitting $57.14. The stock had a trading volume of 4,595,632 shares. The company has a market cap of $32.98 billion, a PE ratio of 20.63 and a beta of 0.61. The firm’s 50 day moving average price is $55.23 and its 200-day moving average price is $57.76. General Mills, Inc. has a one year low of $53.24 and a one year high of $71.96.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.43%. General Mills’s dividend payout ratio (DPR) is presently 70.76%.
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A number of brokerages recently weighed in on GIS. Royal Bank Of Canada reduced their target price on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, June 29th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG reiterated a “neutral” rating and issued a $58.00 target price (down previously from $61.00) on shares of General Mills in a report on Friday, June 30th. 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 restated an “underweight” rating and set a $56.00 price objective (down previously from $57.00) on shares of General Mills in a research note on Monday, June 19th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company 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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