Salem Capital Management Inc. Takes $205,000 Position in General Mills, Inc. (GIS)

Salem Capital Management Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,970 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GIS. Norges Bank acquired a new position in General Mills in the fourth quarter valued at approximately $208,406,000. Oregon Public Employees Retirement Fund lifted its holdings in General Mills by 3,788.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock valued at $65,000 after acquiring an additional 2,466,013 shares during the last quarter. BlackRock Inc. lifted its holdings in General Mills by 2.6% in the fourth quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock valued at $1,593,046,000 after acquiring an additional 1,049,722 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in General Mills by 23.8% in the third quarter. Macquarie Group Ltd. now owns 5,405,699 shares of the company’s stock valued at $232,013,000 after acquiring an additional 1,037,852 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in General Mills in the fourth quarter valued at approximately $33,087,000. Hedge funds and other institutional investors own 68.89% of the company’s stock.

In other news, CFO Donal L. Mulligan sold 120,722 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.50, for a total transaction of $5,734,295.00. Following the sale, the chief financial officer now owns 252,326 shares of the company’s stock, valued at $11,985,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donal L. Mulligan sold 126,337 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $50.00, for a total value of $6,316,850.00. Following the sale, the chief financial officer now directly owns 378,663 shares in the company, valued at approximately $18,933,150. The disclosure for this sale can be found here. Insiders have sold 452,071 shares of company stock worth $22,112,181 in the last ninety days. Corporate insiders own 0.59% of the company’s stock.

NYSE GIS traded down $0.03 on Monday, reaching $51.55. The stock had a trading volume of 66,163 shares, compared to its average volume of 5,103,118. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.19 and a beta of 0.78. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $51.96.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 earnings per share. Analysts anticipate that General Mills, Inc. will post 3.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.

GIS has been the topic of a number of recent analyst reports. ValuEngine upgraded General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Jefferies Financial Group set a $55.00 price objective on General Mills and gave the company a “buy gis” rating in a report on Monday, December 24th. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and upped their price objective for the company from $43.00 to $54.00 in a report on Thursday, March 14th. Standpoint Research lowered General Mills from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. Finally, TheStreet raised General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. General Mills has an average rating of “Hold” and an average target price of $49.91.

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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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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