Vanguard Group Inc. Raises Stock Position in General Mills, Inc. (NYSE:GIS)

Share on StockTwits

Vanguard Group Inc. raised its stake in General Mills, Inc. (NYSE:GIS) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,174,991 shares of the company’s stock after buying an additional 643,774 shares during the period. Vanguard Group Inc. owned approximately 7.84% of General Mills worth $2,477,631,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GIS. Geode Capital Management LLC lifted its position in shares of General Mills by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock worth $281,036,000 after buying an additional 473,831 shares in the last quarter. Cornerstone Advisors Inc. raised its position in General Mills by 26.4% during the first quarter. Cornerstone Advisors Inc. now owns 1,939 shares of the company’s stock valued at $100,000 after purchasing an additional 405 shares during the period. JPMorgan Chase & Co. raised its position in General Mills by 42.3% during the first quarter. JPMorgan Chase & Co. now owns 1,965,879 shares of the company’s stock valued at $101,734,000 after purchasing an additional 584,631 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in General Mills by 0.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,381,640 shares of the company’s stock valued at $123,250,000 after purchasing an additional 18,134 shares during the period. Finally, Clark Capital Management Group Inc. raised its position in General Mills by 91.4% during the first quarter. Clark Capital Management Group Inc. now owns 735,572 shares of the company’s stock valued at $38,066,000 after purchasing an additional 351,262 shares during the period. 68.74% of the stock is owned by institutional investors.

Shares of NYSE GIS traded down $0.06 during midday trading on Thursday, hitting $54.47. The company’s stock had a trading volume of 303,614 shares, compared to its average volume of 3,368,375. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58. The business’s 50 day moving average is $54.06 and its two-hundred day moving average is $52.08. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $56.40. The firm has a market cap of $32.91 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.

A number of brokerages have issued reports on GIS. Goldman Sachs Group downgraded General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price objective on the stock. in a research report on Tuesday, May 28th. Edward Jones upgraded General Mills from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Piper Jaffray Companies upped their price objective on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. UBS Group upped their price objective on General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Finally, Stifel Nicolaus upped their price objective on General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $53.56.

About General Mills

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.

Featured Story: Why is momentum important to successful trading?

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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.