California State Teachers Retirement System trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 981,687 shares of the company’s stock after selling 25,321 shares during the quarter. California State Teachers Retirement System owned about 0.17% of General Mills worth $58,204,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Avestar Capital LLC purchased a new position in shares of General Mills in the 4th quarter valued at approximately $100,000. Truewealth LLC purchased a new position in shares of General Mills in the 4th quarter valued at approximately $119,000. Financial Gravity Companies Inc. purchased a new position in shares of General Mills in the 4th quarter valued at approximately $131,000. Cable Hill Partners LLC raised its position in shares of General Mills by 274.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of General Mills by 322.7% in the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on GIS. Jefferies Group raised shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, February 14th. Susquehanna Bancshares set a $61.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Friday, February 23rd. Wells Fargo & Co set a $65.00 price objective on shares of General Mills and gave the company a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Piper Jaffray Companies raised shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective for the company in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus price target of $57.64.
General Mills, Inc. (NYSE:GIS) opened at $51.99 on Wednesday. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $61.34. 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 firm has a market cap of $29,580.00, a P/E ratio of 19.04, a P/E/G ratio of 2.13 and a beta of 0.72.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. 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 company earned $0.85 EPS. General Mills’s quarterly revenue was up 2.1% on a year-over-year basis. analysts expect that General Mills, Inc. will post 3.17 earnings per share for the current year.
General Mills announced that its Board of Directors has approved a share repurchase program on Friday, February 23rd that permits the company to buyback outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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General Mills Company 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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