Personal Capital Advisors Corp cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,701 shares of the company’s stock after selling 5,601 shares during the quarter. Personal Capital Advisors Corp’s holdings in General Mills were worth $4,251,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of GIS. Private Advisor Group LLC lifted its holdings in General Mills by 21.8% in the second quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock valued at $2,968,000 after acquiring an additional 9,952 shares during the period. LVW Advisors LLC acquired a new stake in General Mills in the second quarter valued at $2,515,000. Captrust Financial Advisors acquired a new stake in General Mills in the second quarter valued at $693,000. AXA lifted its holdings in General Mills by 8.5% in the second quarter. AXA now owns 1,030,200 shares of the company’s stock valued at $57,073,000 after acquiring an additional 81,000 shares during the period. Finally, 1st Global Advisors Inc. acquired a new stake in General Mills in the second quarter valued at $2,600,000. 72.58% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.
A number of research firms have commented on GIS. Piper Jaffray Companies raised General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a report on Wednesday, January 3rd. Edward Jones reissued a “hold” rating on shares of General Mills in a report on Wednesday, December 20th. Susquehanna Bancshares set a $60.00 target price on General Mills and gave the company a “hold” rating in a report on Tuesday, December 19th. BMO Capital Markets reissued a “neutral” rating on shares of General Mills in a report on Friday, December 22nd. Finally, Goldman Sachs Group reissued a “sell” rating on shares of General Mills in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.28.
General Mills, Inc. (NYSE GIS) opened at $59.11 on Friday. General Mills, Inc. has a 52-week low of $49.65 and a 52-week high of $63.73. The firm has a market capitalization of $33,636.19, a price-to-earnings ratio of 19.84, a PEG ratio of 2.61 and a beta of 0.66. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. sell-side analysts forecast that General Mills, Inc. will post 3.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio is currently 71.79%.
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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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