Pacer Advisors Inc. Raises Holdings in General Mills, Inc. (GIS)

Pacer Advisors Inc. boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 138.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 27,951 shares of the company’s stock after acquiring an additional 16,216 shares during the quarter. Pacer Advisors Inc.’s holdings in General Mills were worth $1,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in General Mills by 18.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 125,650 shares of the company’s stock worth $6,961,000 after acquiring an additional 19,276 shares during the period. USS Investment Management Ltd raised its stake in shares of General Mills by 18.1% during the 2nd quarter. USS Investment Management Ltd now owns 108,373 shares of the company’s stock valued at $6,003,000 after buying an additional 16,600 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of General Mills by 48.4% during the 2nd quarter. Penserra Capital Management LLC now owns 3,276 shares of the company’s stock valued at $181,000 after buying an additional 1,068 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of General Mills by 2.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 50,897 shares of the company’s stock valued at $2,820,000 after buying an additional 1,004 shares during the last quarter. Finally, Usca Ria LLC raised its stake in shares of General Mills by 2.1% during the 2nd quarter. Usca Ria LLC now owns 95,709 shares of the company’s stock valued at $5,302,000 after buying an additional 1,979 shares during the last quarter. 70.45% of the stock is owned by institutional investors.

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A number of research firms have weighed in on GIS. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of General Mills in a research note on Wednesday, October 4th. Credit Suisse Group reiterated a “neutral” rating and set a $53.00 price objective on shares of General Mills in a research note on Monday, September 25th. Wells Fargo & Company reduced their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Piper Jaffray Companies reiterated a “sell” rating and set a $53.00 price objective on shares of General Mills in a research note on Thursday, September 21st. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (down previously from $60.00) on shares of General Mills in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. General Mills has a consensus rating of “Hold” and an average target price of $56.75.

General Mills, Inc. (NYSE:GIS) opened at 50.95 on Wednesday. The company has a 50 day moving average price of $53.66 and a 200 day moving average price of $55.82. The stock has a market cap of $28.96 billion, a price-to-earnings ratio of 18.26 and a beta of 0.61. General Mills, Inc. has a 52 week low of $50.13 and a 52 week high of $64.06.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Analysts expect that General Mills, Inc. will post $3.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.85%. General Mills’s payout ratio is currently 70.25%.

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.

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

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