Beacon Investment Advisory Services Inc. lessened its position in shares of General Mills, Inc. (NYSE:GIS) by 35.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,013 shares of the company’s stock after selling 2,700 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in General Mills were worth $297,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GIS. Lenox Wealth Management Inc. raised its position in General Mills by 0.3% in the second quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock valued at $180,000 after purchasing an additional 11 shares during the period. CFO4Life Group LLC raised its position in General Mills by 1.3% in the second quarter. CFO4Life Group LLC now owns 3,827 shares of the company’s stock valued at $212,000 after purchasing an additional 48 shares during the period. Argent Trust Co raised its position in General Mills by 0.6% in the second quarter. Argent Trust Co now owns 16,141 shares of the company’s stock valued at $894,000 after purchasing an additional 100 shares during the period. Associated Banc Corp raised its position in General Mills by 0.3% in the second quarter. Associated Banc Corp now owns 28,880 shares of the company’s stock valued at $1,600,000 after purchasing an additional 100 shares during the period. Finally, McKinley Carter Wealth Services Inc. raised its position in General Mills by 2.8% in the second quarter. McKinley Carter Wealth Services Inc. now owns 4,521 shares of the company’s stock valued at $250,000 after purchasing an additional 125 shares during the period. 72.59% of the stock is currently owned by hedge funds and other institutional investors.
General Mills, Inc. (NYSE GIS) traded up $0.67 during trading hours on Wednesday, hitting $55.46. 1,016,639 shares of the company’s stock traded hands, compared to its average volume of 3,245,084. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $31,570.00, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $63.35.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. research analysts expect that General Mills, Inc. will post 3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.53%. General Mills’s payout ratio is currently 71.79%.
A number of analysts have issued reports on GIS shares. Wells Fargo & Co raised General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research report on Monday, December 18th. Argus reissued a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Jefferies Group began coverage on General Mills in a research report on Friday, October 20th. They issued a “hold” rating and a $56.00 target price on the stock. Finally, Royal Bank of Canada set a $58.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus price target of $58.28.
In related news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction 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 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
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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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