Sheets Smith Wealth Management decreased its holdings in General Mills, Inc. (NYSE:GIS) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,997 shares of the company’s stock after selling 2,364 shares during the period. General Mills comprises about 1.1% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 21st biggest holding. Sheets Smith Wealth Management’s holdings in General Mills were worth $4,089,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of GIS. Cornerstone Advisors Inc. grew its holdings in shares of General Mills by 25.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock worth $60,000 after acquiring an additional 281 shares during the period. Moody National Bank Trust Division grew its holdings in shares of General Mills by 28.3% in the fourth quarter. Moody National Bank Trust Division now owns 2,214 shares of the company’s stock worth $86,000 after acquiring an additional 489 shares during the period. Highwater Wealth Management LLC bought a new stake in shares of General Mills in the fourth quarter worth $87,000. Kiley Juergens Wealth Management LLC grew its holdings in shares of General Mills by 108.2% in the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock worth $129,000 after acquiring an additional 1,568 shares during the period. Finally, ELM Advisors LLC bought a new stake in shares of General Mills in the third quarter worth $137,000. 68.57% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on GIS. Morgan Stanley set a $41.00 price objective on General Mills and gave the stock a “hold” rating in a report on Sunday, December 30th. Standpoint Research started coverage on General Mills in a report on Wednesday, December 26th. They set a “buy” rating and a $37.59 price target for the company. Jefferies Financial Group set a $55.00 price target on General Mills and gave the company a “buy gis” rating in a report on Monday, December 24th. Wells Fargo & Co set a $46.00 price target on General Mills and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Barclays reissued a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. General Mills has an average rating of “Hold” and an average price target of $47.37.
Shares of General Mills stock traded up $0.14 during trading hours on Friday, hitting $41.56. The company’s stock had a trading volume of 162,711 shares, compared to its average volume of 6,680,167. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $60.69. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.81 and a beta of 0.64. The company has a quick ratio of 0.36, a current ratio of 0.58 and a debt-to-equity ratio of 1.75.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. General Mills had a return on equity of 29.44% and a net margin of 12.48%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that General Mills, Inc. will post 3.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.72%. General Mills’s payout ratio is 63.02%.
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General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. 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, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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