Sciencast Management LP trimmed its position in General Mills (NYSE:GIS) by 64.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,959 shares of the company’s stock after selling 17,733 shares during the period. Sciencast Management LP’s holdings in General Mills were worth $594,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Bangor Savings Bank increased its position in General Mills by 3.4% during the second quarter. Bangor Savings Bank now owns 7,814 shares of the company’s stock valued at $433,000 after acquiring an additional 260 shares during the last quarter. National Asset Management Inc. increased its position in General Mills by 11.6% in the second quarter. National Asset Management Inc. now owns 6,273 shares of the company’s stock worth $348,000 after buying an additional 654 shares in the last quarter. Navellier & Associates Inc increased its position in General Mills by 3.6% in the second quarter. Navellier & Associates Inc now owns 24,404 shares of the company’s stock worth $1,352,000 after buying an additional 839 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of 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 in the last quarter. Finally, First Fiduciary Investment Counsel Inc. grew its position in shares of 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 in the last quarter. 74.23% of the stock is currently owned by institutional investors.
In related news, insider Bethany C. Quam sold 8,712 shares of the 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 transaction, the insider now owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.
Several analysts recently issued reports on the company. TheStreet cut General Mills from a “b-” rating to a “c+” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered General Mills from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Barclays reaffirmed a “hold” rating and issued a $48.00 price objective on shares of General Mills in a research note on Friday, March 23rd. Susquehanna Bancshares raised General Mills from a “neutral” rating to a “positive” rating in a research note on Friday, March 23rd. Finally, UBS raised General Mills from a “neutral” rating to a “positive” rating in a research note on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. General Mills has a consensus rating of “Hold” and an average target price of $53.71.
NYSE:GIS opened at $45.47 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.34. The company has a market cap of $25,851.66, a price-to-earnings ratio of 14.90, a PEG ratio of 2.04 and a beta of 0.76. General Mills has a 12 month low of $43.84 and a 12 month high of $60.69.
General Mills (NYSE:GIS) last posted its quarterly earnings results 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. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. equities research analysts forecast that General Mills will post 3.09 earnings per share for the current year.
General Mills announced that its Board of Directors has authorized a stock repurchase program on Friday, February 23rd that allows the company to buyback shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s payout ratio is currently 63.64%.
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About General Mills
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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