Welch & Forbes LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,713 shares of the company’s stock after selling 2,744 shares during the period. Welch & Forbes LLC’s holdings in General Mills were worth $3,727,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of General Mills in the third quarter worth about $321,000. Financial Counselors Inc. increased its stake in shares of General Mills by 4.0% in the third quarter. Financial Counselors Inc. now owns 204,922 shares of the company’s stock worth $8,795,000 after purchasing an additional 7,917 shares during the period. Trillium Asset Management LLC increased its stake in shares of General Mills by 11.4% in the third quarter. Trillium Asset Management LLC now owns 31,044 shares of the company’s stock worth $1,333,000 after purchasing an additional 3,184 shares during the period. Sowell Financial Services LLC increased its stake in shares of General Mills by 4.0% in the third quarter. Sowell Financial Services LLC now owns 89,148 shares of the company’s stock worth $3,826,000 after purchasing an additional 3,467 shares during the period. Finally, Frontier Investment Mgmt Co. increased its stake in shares of General Mills by 22.7% in the third quarter. Frontier Investment Mgmt Co. now owns 225,250 shares of the company’s stock worth $9,668,000 after purchasing an additional 41,660 shares during the period. 68.90% of the stock is owned by hedge funds and other institutional investors.
NYSE GIS traded up $0.38 during trading on Tuesday, reaching $44.37. 860,303 shares of the company traded hands, compared to its average volume of 5,153,983. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $26.25 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.97 and a beta of 0.76. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $56.90.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.51 billion. General Mills had a return on equity of 29.44% and a net margin of 12.48%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. On average, analysts predict that General Mills, Inc. will post 3.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Tuesday, April 9th. General Mills’s payout ratio is 63.02%.
A number of equities analysts have recently commented on GIS shares. Piper Jaffray Companies reiterated an “average” rating and issued a $47.00 price objective on shares of General Mills in a research note on Thursday, December 20th. Wells Fargo & Co set a $46.00 price objective on General Mills and gave the stock a “buy” rating in a research note on Thursday, December 20th. Guggenheim started coverage on General Mills in a research note on Tuesday, January 22nd. They issued a “buy” rating and a $49.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of General Mills in a research note on Tuesday, December 18th. Finally, UBS Group reiterated a “buy” rating and issued a $40.00 price objective on shares of General Mills in a research note on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.45.
In other General Mills news, Director R Kerry Clark sold 7,849 shares of General Mills stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $44.26, for a total transaction of $347,396.74. Following the sale, the director now directly owns 30,215 shares of the company’s stock, valued at $1,337,315.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is currently owned by insiders.
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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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