General Mills, Inc. (GIS) Short Interest Update
General Mills, Inc. (NYSE:GIS) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 17,184,993 shares, a decline of 21.6% from the July 14th total of 21,923,670 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average daily volume of 3,877,267 shares, the days-to-cover ratio is currently 4.4 days.
A number of institutional investors have recently modified their holdings of GIS. Alpha Windward LLC raised its position in shares of General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock valued at $241,000 after buying an additional 34 shares during the last quarter. Tompkins Financial Corp raised its position in shares of General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock valued at $372,000 after buying an additional 162 shares during the last quarter. Integrated Wealth Management raised its position in shares of General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock valued at $519,000 after buying an additional 54 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of General Mills by 1.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 15,772 shares of the company’s stock valued at $870,000 after buying an additional 252 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of General Mills during the first quarter valued at $498,000. 71.46% of the stock is currently owned by hedge funds and other institutional investors.
General Mills (GIS) opened at 57.40 on Tuesday. The firm has a market cap of $33.13 billion, a price-to-earnings ratio of 20.72 and a beta of 0.61. General Mills has a 52-week low of $53.24 and a 52-week high of $71.96. The stock has a 50 day moving average of $55.05 and a 200-day moving average of $57.85.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, analysts expect that General Mills will post $3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, July 6th. This is a positive change from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio (DPR) is presently 70.76%.
Several analysts have recently weighed in on the stock. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price on the stock in a report on Monday, May 1st. Royal Bank Of Canada set a $62.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $56.00 target price (down previously from $65.00) on shares of General Mills in a report on Friday, May 19th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $52.00 target price (down previously from $59.00) on shares of General Mills in a report on Friday, June 30th. 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’s stock. The stock presently has an average rating of “Hold” and a consensus target price 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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