Cullen Frost Bankers Inc. grew its holdings in General Mills, Inc. (NYSE:GIS) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,106 shares of the company’s stock after purchasing an additional 4,421 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in General Mills were worth $2,045,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of General Mills by 15.8% during the 2nd quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after purchasing an additional 6,544,997 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of General Mills by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock worth $2,477,631,000 after buying an additional 643,774 shares in the last quarter. Invesco Ltd. boosted its position in shares of General Mills by 0.9% in the 2nd quarter. Invesco Ltd. now owns 18,063,593 shares of the company’s stock worth $948,701,000 after buying an additional 159,380 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of General Mills by 44.6% in the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after buying an additional 1,639,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of General Mills by 3.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,750,965 shares of the company’s stock worth $249,521,000 after buying an additional 154,410 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.
In other General Mills news, insider Jonathon Nudi sold 18,951 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $54.52, for a total value of $1,033,208.52. Following the sale, the insider now directly owns 81,656 shares of the company’s stock, valued at $4,451,885.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kofi A. Bruce sold 15,582 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the sale, the insider now directly owns 35,487 shares in the company, valued at $1,928,008.71. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
GIS traded up $0.23 during trading hours on Friday, hitting $52.21. 764,749 shares of the stock were exchanged, compared to its average volume of 3,293,292. The stock has a 50-day simple moving average of $52.98 and a 200-day simple moving average of $52.93. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $56.40. The stock has a market cap of $31.18 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.37.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. General Mills had a return on equity of 27.38% and a net margin of 11.21%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts expect that General Mills, Inc. will post 3.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Wednesday, October 9th. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
Several equities research analysts recently commented on GIS shares. Morgan Stanley boosted their price objective on shares of General Mills from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Barclays reissued a “hold” rating and issued a $55.00 target price on shares of General Mills in a research note on Friday, September 20th. ValuEngine downgraded shares of General Mills from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 22nd. Finally, Stifel Nicolaus boosted their target price on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.82.
General Mills Company 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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