Sterling Capital Management LLC increased its position in shares of General Mills, Inc. (NYSE:GIS) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,028 shares of the company’s stock after purchasing an additional 8,102 shares during the quarter. Sterling Capital Management LLC’s holdings in General Mills were worth $4,330,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. lifted its position in General Mills by 0.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 191,721 shares of the company’s stock worth $11,367,000 after purchasing an additional 933 shares during the period. First Fiduciary Investment Counsel Inc. lifted its position in General Mills by 0.4% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 216,290 shares of the company’s stock worth $11,195,000 after purchasing an additional 945 shares during the period. Premier Asset Management LLC lifted its position in General Mills by 8.5% during the third quarter. Premier Asset Management LLC now owns 12,100 shares of the company’s stock worth $626,000 after purchasing an additional 950 shares during the period. Trust Co lifted its position in General Mills by 17.3% during the third quarter. Trust Co now owns 6,600 shares of the company’s stock worth $342,000 after purchasing an additional 974 shares during the period. Finally, Brown Advisory Securities LLC lifted its position in General Mills by 9.7% during the third quarter. Brown Advisory Securities LLC now owns 11,078 shares of the company’s stock worth $574,000 after purchasing an additional 975 shares during the period. 74.20% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. BMO Capital Markets reaffirmed a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. Susquehanna Bancshares set a $61.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research report on Friday, January 5th. Piper Jaffray Companies raised shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.70.
General Mills, Inc. (NYSE:GIS) opened at $44.45 on Friday. The stock has a market cap of $25,897.18, a P/E ratio of 11.89, a P/E/G ratio of 1.93 and a beta of 0.72. General Mills, Inc. has a fifty-two week low of $44.44 and a fifty-two week high of $60.69. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.34.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. equities analysts expect that General Mills, Inc. will post 3.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.49 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a yield of 4.41%. General Mills’s dividend payout ratio (DPR) is presently 52.41%.
General Mills announced that its board has authorized a share repurchase plan on Friday, February 23rd that permits the company to buyback shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In related 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 value of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.
ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/03/23/sterling-capital-management-llc-grows-position-in-general-mills-inc-gis.html.
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.
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.