TIAA CREF Trust Co. FSB MO Sells 4,516 Shares of General Mills Inc. (GIS)
TIAA CREF Trust Co. FSB MO reduced its stake in General Mills Inc. (NYSE:GIS) by 6.6% during the third quarter, Holdings Channel reports. The institutional investor owned 63,801 shares of the company’s stock after selling 4,516 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in General Mills were worth $4,076,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hallmark Capital Management Inc. purchased a new position in shares of General Mills during the second quarter valued at about $103,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of General Mills during the second quarter valued at about $107,000. Penserra Capital Management LLC raised its position in shares of General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock valued at $110,000 after buying an additional 864 shares in the last quarter. Brick & Kyle Associates raised its position in shares of General Mills by 6.7% in the second quarter. Brick & Kyle Associates now owns 1,592 shares of the company’s stock valued at $114,000 after buying an additional 100 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. raised its position in shares of General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares in the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills Inc. (NYSE:GIS) traded down 2.74% during trading on Wednesday, reaching $60.94. The company had a trading volume of 5,940,025 shares. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 22.16 and a beta of 0.55. The company’s 50 day moving average is $61.62 and its 200-day moving average is $66.08. General Mills Inc. has a 1-year low of $53.53 and a 1-year high of $72.95.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. On average, equities research analysts anticipate that General Mills Inc. will post $3.10 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Wednesday, October 5th. General Mills’s dividend payout ratio (DPR) is presently 69.82%.
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Several brokerages have recently issued reports on GIS. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price objective on shares of General Mills in a research report on Friday, September 23rd. Credit Suisse Group AG reaffirmed a “hold” rating and set a $74.00 price objective on shares of General Mills in a research report on Thursday, September 8th. BMO Capital Markets reaffirmed a “hold” rating and set a $74.00 price objective on shares of General Mills in a research report on Thursday, September 22nd. Finally, S&P Equity Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of General Mills in a research report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.56.
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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