Brookstone Capital Management reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 71.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,346 shares of the company’s stock after selling 96,957 shares during the period. Brookstone Capital Management’s holdings in General Mills were worth $1,493,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Ironwood Investment Counsel LLC raised its position in General Mills by 1.0% during the fourth quarter. Ironwood Investment Counsel LLC now owns 25,342 shares of the company’s stock valued at $986,000 after purchasing an additional 243 shares in the last quarter. Northwest Wealth Management LLC raised its position in General Mills by 23.1% during the fourth quarter. Northwest Wealth Management LLC now owns 1,441 shares of the company’s stock valued at $56,000 after purchasing an additional 270 shares in the last quarter. Cornerstone Advisors Inc. raised its position in General Mills by 25.4% during the third quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock valued at $60,000 after purchasing an additional 281 shares in the last quarter. New Mexico Educational Retirement Board raised its position in General Mills by 0.6% during the third quarter. New Mexico Educational Retirement Board now owns 52,812 shares of the company’s stock valued at $2,267,000 after purchasing an additional 300 shares in the last quarter. Finally, Lee Danner & Bass Inc. raised its position in General Mills by 1.3% during the fourth quarter. Lee Danner & Bass Inc. now owns 22,890 shares of the company’s stock valued at $891,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 68.90% of the company’s stock.
Shares of General Mills stock opened at $44.47 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 1.75. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $56.90. The firm has a market capitalization of $26.70 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.97 and a beta of 0.76.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. General Mills’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.41%. General Mills’s dividend payout ratio is 63.02%.
In related news, Director R Kerry Clark sold 7,849 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the sale, the director now owns 30,215 shares of the company’s stock, valued at $1,337,315.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.
A number of analysts have weighed in on the stock. Morgan Stanley set a $41.00 target price on shares of General Mills and gave the stock a “hold” rating in a research note on Friday, December 21st. Wells Fargo & Co set a $46.00 target price on shares of General Mills and gave the stock a “buy” rating in a research note on Thursday, December 20th. Piper Jaffray Companies reaffirmed an “average” rating and set a $47.00 target price on shares of General Mills in a research note on Thursday, December 20th. Guggenheim assumed coverage on shares of General Mills in a research note on Tuesday, January 22nd. They set a “buy” rating and a $49.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of General Mills in a research note on Tuesday, December 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.45.
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General Mills Company 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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