116,389 Shares in General Mills, Inc. (NYSE:GIS) Acquired by Landscape Capital Management L.L.C.
Landscape Capital Management L.L.C. acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 116,389 shares of the company’s stock, valued at approximately $6,113,000.
A number of other institutional investors have also recently added to or reduced their stakes in GIS. Westside Investment Management Inc. acquired a new stake in General Mills during the 2nd quarter worth approximately $5,185,000. Employers Holdings Inc. acquired a new stake in General Mills during the 2nd quarter worth approximately $32,000. NuWave Investment Management LLC raised its holdings in General Mills by 377.4% during the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after buying an additional 502 shares during the period. Certified Advisory Corp raised its holdings in General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after buying an additional 323 shares during the period. Finally, Smart Money Group LLC acquired a new stake in General Mills during the 2nd quarter worth approximately $33,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Edward Jones upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Goldman Sachs Group downgraded shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price on the stock. in a report on Tuesday, May 28th. Piper Jaffray Companies raised their target price on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Guggenheim raised their target price on shares of General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Zacks Investment Research reiterated a “strong-buy” rating on shares of General Mills in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $52.66.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. On average, research analysts predict that General Mills, Inc. will post 3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.49 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.59%. General Mills’s payout ratio is 60.87%.
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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