Signature Financial Management Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 19.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,540 shares of the company’s stock after selling 1,314 shares during the period. Signature Financial Management Inc.’s holdings in General Mills were worth $328,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of GIS. American International Group Inc. boosted its position in shares of General Mills by 1,708.4% during the 3rd 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 period. Janus Henderson Group PLC boosted its position in shares of General Mills by 3,178.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock worth $144,666,000 after purchasing an additional 2,531,664 shares during the period. Stifel Financial Corp boosted its position in shares of General Mills by 28,570.2% during the 3rd quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock worth $86,610,000 after purchasing an additional 1,665,641 shares during the period. American Century Companies Inc. boosted its position in shares of General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after purchasing an additional 1,550,074 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of General Mills by 13.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after purchasing an additional 1,009,126 shares during the period. 72.89% 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 shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the sale, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the stock. Jefferies Group raised shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, February 14th. Credit Suisse Group set a $62.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Thursday, January 18th. Susquehanna Bancshares set a $61.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Friday, January 5th. Piper Jaffray Companies upgraded shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a report on Wednesday, January 3rd. Finally, Argus reiterated a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $58.11.
Shares of General Mills, Inc. (NYSE GIS) opened at $56.43 on Tuesday. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $61.59. The firm has a market cap of $32,111.14, a price-to-earnings ratio of 18.94, a PEG ratio of 2.48 and a beta of 0.61. 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 data on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the business earned $0.85 EPS. The company’s revenue was up 2.1% on a year-over-year basis. sell-side analysts anticipate that General Mills, Inc. will post 3.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.49 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.47%. General Mills’s payout ratio is 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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