Mutual of America Capital Management LLC lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,266 shares of the company’s stock after acquiring an additional 14,036 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Mills were worth $5,720,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. raised its holdings in General Mills by 1,063.9% in the second quarter. Macquarie Group Ltd. now owns 4,367,847 shares of the company’s stock worth $193,313,000 after purchasing an additional 3,992,581 shares in the last quarter. Hamlin Capital Management LLC bought a new position in General Mills in the third quarter worth $48,392,000. FMR LLC raised its holdings in General Mills by 81.3% in the second quarter. FMR LLC now owns 1,563,133 shares of the company’s stock worth $69,185,000 after purchasing an additional 701,104 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in General Mills by 609.0% in the second quarter. Glenmede Trust Co. NA now owns 801,925 shares of the company’s stock worth $35,494,000 after purchasing an additional 688,816 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in General Mills by 2,275.4% in the second quarter. OppenheimerFunds Inc. now owns 682,447 shares of the company’s stock worth $30,206,000 after purchasing an additional 653,717 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.
Shares of NYSE:GIS opened at $38.48 on Friday. General Mills, Inc. has a 1-year low of $38.17 and a 1-year high of $60.69. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93. The firm has a market cap of $23.69 billion, a PE ratio of 12.77, a P/E/G ratio of 1.67 and a beta of 0.60.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the company earned $0.71 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 5.09%. General Mills’s payout ratio is presently 63.02%.
GIS has been the subject of a number of research reports. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.00 price objective on shares of General Mills in a report on Monday, September 17th. Morgan Stanley initiated coverage on General Mills in a report on Monday, September 17th. They issued an “equal weight” rating and a $48.00 price objective for the company. Finally, Credit Suisse Group set a $46.00 price objective on General Mills and gave the stock a “hold” rating in a report on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. General Mills has a consensus rating of “Hold” and a consensus target price of $50.06.
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General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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