Westwood Holdings Group Inc. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,015,845 shares of the company’s stock after purchasing an additional 277,986 shares during the period. General Mills comprises approximately 1.4% of Westwood Holdings Group Inc.’s portfolio, making the stock its 14th biggest position. Westwood Holdings Group Inc. owned about 0.52% of General Mills worth $167,099,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after purchasing an additional 533,919 shares in the last quarter. American Century Companies Inc. increased its holdings in General Mills by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock worth $539,908,000 after purchasing an additional 659,156 shares in the last quarter. Morgan Stanley increased its holdings in General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after purchasing an additional 1,603,577 shares in the last quarter. Geode Capital Management LLC increased its holdings in General Mills by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after purchasing an additional 295,119 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in General Mills by 17.0% during the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock worth $268,283,000 after purchasing an additional 660,726 shares in the last quarter. 69.88% of the stock is owned by hedge funds and other institutional investors.
General Mills, Inc. (NYSE:GIS) opened at $52.97 on Tuesday. The firm has a market capitalization of $30,281.07, 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, Inc. has a twelve month low of $49.65 and a twelve month high of $64.06. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.83.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. equities research analysts predict that General Mills, Inc. will post 3.1 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. The ex-dividend date was Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.70%. General Mills’s dividend payout ratio is currently 70.25%.
Several equities analysts have recently issued reports on the company. Royal Bank Of Canada set a $62.00 target price on General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $56.00 target price on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. Finally, Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. General Mills presently has an average rating of “Hold” and an average price target of $56.60.
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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