GHP Investment Advisors Inc. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,047 shares of the company’s stock after selling 4,143 shares during the period. GHP Investment Advisors Inc.’s holdings in General Mills were worth $2,849,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. American International Group Inc. increased its position in General Mills by 1,708.4% in the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after buying an additional 8,528,534 shares during the period. Stifel Financial Corp increased its position in General Mills by 28,570.2% in the third quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock worth $86,610,000 after buying an additional 1,665,641 shares during the period. American Century Companies Inc. increased its position in General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after buying an additional 1,550,074 shares during the period. Bank of New York Mellon Corp increased its position in General Mills by 13.5% in the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after buying an additional 1,009,126 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in General Mills in the fourth quarter worth $50,956,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the transaction, 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. Company insiders own 1.40% of the company’s stock.
General Mills, Inc. (GIS) opened at $51.99 on Wednesday. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $61.34. The stock has a market capitalization of $29,573.21, a price-to-earnings ratio of 19.04, a PEG ratio of 2.15 and a beta of 0.72. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. research analysts expect that General Mills, Inc. will post 3.17 EPS for the current year.
General Mills declared that its Board of Directors has authorized a stock buyback plan on Friday, February 23rd that permits the company to buyback shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
TRADEMARK VIOLATION NOTICE: This report was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/03/14/ghp-investment-advisors-inc-reduces-position-in-general-mills-inc-gis.html.
About General Mills
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.
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.