Argent Capital Management LLC lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 19.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,097 shares of the company’s stock after selling 63,933 shares during the period. Argent Capital Management LLC’s holdings in General Mills were worth $14,631,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GIS. Flossbach Von Storch AG acquired a new position in General Mills during the second quarter valued at approximately $227,578,000. Janus Henderson Group PLC grew its holdings in General Mills by 3,178.6% during the second quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock valued at $144,666,000 after purchasing an additional 2,531,664 shares during the last quarter. Federated Investors Inc. PA grew its holdings in General Mills by 94.6% during the second quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after purchasing an additional 2,195,397 shares during the last quarter. Morgan Stanley grew its holdings in General Mills by 29.4% during the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after purchasing an additional 1,603,577 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in General Mills by 146.2% during the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after purchasing an additional 1,190,200 shares during the last quarter. Institutional investors own 69.58% of the company’s stock.
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Shares of General Mills, Inc. (NYSE GIS) opened at $53.28 on Friday. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $64.06. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74. The firm has a market cap of $30,281.10, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.63.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. equities analysts forecast that General Mills, Inc. will post 3.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.68%. General Mills’s dividend payout ratio is currently 70.25%.
GIS has been the topic of several analyst reports. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $56.00 price target on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. Finally, Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and an average target price of $56.60.
General Mills Company Profile
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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