Koch Industries Inc. purchased a new stake in General Mills, Inc. (NYSE:GIS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 424,748 shares of the company’s stock, valued at approximately $417,000. Koch Industries Inc. owned approximately 0.07% of General Mills as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Flossbach Von Storch AG bought a new stake in shares of General Mills during the second quarter worth about $227,578,000. Janus Henderson Group PLC grew its holdings in shares of 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 worth $144,666,000 after purchasing an additional 2,531,664 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of General Mills by 94.6% during the second quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock worth $250,196,000 after purchasing an additional 2,195,397 shares during the last quarter. Morgan Stanley grew its holdings in shares of General Mills by 29.4% during the first 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 during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of General Mills by 146.2% during the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock worth $118,274,000 after purchasing an additional 1,190,200 shares during the last quarter. 69.88% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (GIS) opened at $54.12 on Wednesday. The stock has a market capitalization of $30,104.89, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.74 and a quick ratio of 0.47. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $64.06.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. equities research analysts expect that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders 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 annualized dividend and a dividend yield of 3.62%. General Mills’s payout ratio is 70.25%.
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Several analysts have recently weighed in on GIS shares. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the stock 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 target price 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 General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $56.60.
General Mills 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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