Dowling & Yahnke LLC lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.4% during the 4th quarter, HoldingsChannel reports. The fund owned 37,690 shares of the company’s stock after selling 4,373 shares during the period. Dowling & Yahnke LLC’s holdings in General Mills were worth $2,235,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cable Hill Partners LLC increased its position in General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after buying an additional 1,647 shares during the last quarter. Grove Bank & Trust increased its position in General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares during the last quarter. Tradewinds Capital Management LLC increased its position in General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after buying an additional 1,459 shares during the last quarter. Spectrum Management Group Inc. acquired a new position in General Mills during the third quarter worth approximately $135,000. Finally, Americafirst Capital Management LLC acquired a new position in General Mills during the second quarter worth approximately $158,000. Institutional investors and hedge funds own 72.84% of the company’s stock.
A number of brokerages have weighed in on GIS. Argus reissued a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. BMO Capital Markets reissued a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. Susquehanna Bancshares set a $61.00 price target on General Mills and gave the stock a “hold” rating in a research report on Friday, January 5th. Piper Jaffray Companies raised General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 price target on General Mills and gave the stock a “hold” rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. General Mills has an average rating of “Hold” and an average target price of $58.28.
In related news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the sale, the insider now owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
General Mills, Inc. (NYSE:GIS) opened at $54.01 on Tuesday. General Mills, Inc. has a 12-month low of $49.65 and a 12-month high of $63.73. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. The company has a market capitalization of $31,838.00, a P/E ratio of 18.77, a PEG ratio of 2.47 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. sell-side analysts expect that General Mills, Inc. will post 3.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, January 9th. General Mills’s payout ratio is 71.79%.
General Mills 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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