O Shaughnessy Asset Management LLC lowered its stake in General Mills, Inc. (NYSE:GIS) by 45.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,586 shares of the company’s stock after selling 6,279 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in General Mills were worth $462,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of General Mills by 6.3% in the first quarter. BlackRock Inc. now owns 47,447,117 shares of the company’s stock valued at $2,909,458,000 after buying an additional 2,827,146 shares in the last quarter. Capital International Investors boosted its holdings in General Mills by 62.7% in the first quarter. Capital International Investors now owns 25,347,517 shares of the company’s stock valued at $1,554,359,000 after purchasing an additional 9,763,868 shares during the last quarter. Geode Capital Management LLC boosted its holdings in General Mills by 2.0% in the first quarter. Geode Capital Management LLC now owns 8,948,730 shares of the company’s stock valued at $547,019,000 after purchasing an additional 177,865 shares during the last quarter. Jensen Investment Management Inc. boosted its holdings in General Mills by 1.9% in the first quarter. Jensen Investment Management Inc. now owns 6,784,493 shares of the company’s stock valued at $416,025,000 after purchasing an additional 124,312 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in General Mills by 30.5% in the first quarter. Morgan Stanley now owns 5,804,859 shares of the company’s stock valued at $355,953,000 after purchasing an additional 1,356,450 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.
In other news, insider Sean N. Walker sold 26,337 shares of the stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $58.78, for a total transaction of $1,548,088.86. Following the sale, the insider now directly owns 105,647 shares in the company, valued at approximately $6,209,930.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Tuesday, June 29th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.36 billion. General Mills had a return on equity of 25.61% and a net margin of 12.91%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. Sell-side analysts predict that General Mills, Inc. will post 3.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, July 8th. General Mills’s payout ratio is 53.83%.
A number of research analysts recently commented on GIS shares. Credit Suisse Group downgraded General Mills from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $63.00 in a report on Monday. Jefferies Financial Group initiated coverage on General Mills in a report on Wednesday, June 30th. They issued a “hold” rating and a $63.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $65.00 target price on shares of General Mills in a report on Monday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of General Mills in a report on Wednesday, June 9th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average target price of $63.89.
General Mills Profile
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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