BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 23.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,606 shares of the company’s stock after selling 56,891 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Mills were worth $7,837,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in GIS. Northern Trust Corp increased its position in General Mills by 1.2% in the second quarter. Northern Trust Corp now owns 8,330,777 shares of the company’s stock worth $368,719,000 after purchasing an additional 96,628 shares during the period. Bank of New York Mellon Corp raised its stake in shares of General Mills by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock worth $338,359,000 after purchasing an additional 46,939 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of General Mills by 5.1% during the 2nd quarter. Schroder Investment Management Group now owns 5,166,277 shares of the company’s stock worth $230,829,000 after purchasing an additional 250,508 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of General Mills by 1,063.9% during the 2nd 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. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of General Mills by 8.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,111,865 shares of the company’s stock worth $181,992,000 after purchasing an additional 317,122 shares in the last quarter. Institutional investors and hedge funds own 68.67% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Credit Suisse Group set a $46.00 price objective on General Mills and gave the stock a “hold” rating in a research note on Thursday, September 13th. Zacks Investment Research cut General Mills from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group set a $46.00 price objective on General Mills and gave the stock a “hold” rating in a research note on Wednesday, September 19th. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Finally, Piper Jaffray Companies set a $47.00 price target on General Mills and gave the company a “hold” rating in a research note on Wednesday, September 19th. Two 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 currently has an average rating of “Hold” and an average price target of $50.06.
Shares of GIS traded down $0.17 during mid-day trading on Monday, hitting $38.31. The stock had a trading volume of 1,609,995 shares, compared to its average volume of 5,150,364. The firm has a market cap of $22.94 billion, a PE ratio of 12.32, a PEG ratio of 1.62 and a beta of 0.60. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.58 and a quick ratio of 0.35. General Mills, Inc. has a 52 week low of $38.17 and a 52 week high of $60.69.
General Mills (NYSE:GIS) last issued its earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 5.12%. General Mills’s payout ratio is presently 63.02%.
TRADEMARK VIOLATION WARNING: “BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.84 Million Holdings in General Mills, Inc. (GIS)” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://www.americanbankingnews.com/2018/12/08/general-mills-inc-gis-shares-sold-by-british-columbia-investment-management-corp.html.
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.
Further Reading: How much money do you need to begin day trading?
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.