Benjamin F. Edwards & Company Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,644 shares of the company’s stock after selling 6,527 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in General Mills were worth $3,714,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Vanguard Group Inc. lifted its holdings in shares of General Mills by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after acquiring an additional 533,919 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of General Mills by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after acquiring an additional 1,550,074 shares during the last quarter. American International Group Inc. lifted its stake in General Mills by 1,708.4% in the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after purchasing an additional 8,528,534 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in General Mills by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock worth $387,691,000 after purchasing an additional 890,262 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in General Mills by 94.6% in 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. 72.58% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on GIS shares. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Jefferies Group started coverage on shares of General Mills in a research note on Friday, October 20th. They issued a “hold” rating and a $56.00 price objective for the company. Susquehanna Bancshares set a $57.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research note on Wednesday, December 13th. Societe Generale raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Edward Jones reissued a “hold” rating on shares of General Mills in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.17.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now directly owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) traded up $0.58 during trading hours on Wednesday, hitting $58.43. 3,961,400 shares of the stock were exchanged, compared to its average volume of 3,146,270. The stock has a market capitalization of $33,640.00, a price-to-earnings ratio of 21.40, a PEG ratio of 2.55 and a beta of 0.66. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $63.73. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.82. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. sell-side analysts expect that General Mills, Inc. will post 3.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 71.79%.
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About General Mills
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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