Eaton Vance Management trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 786,386 shares of the company’s stock after selling 62,816 shares during the period. Eaton Vance Management owned approximately 0.13% of General Mills worth $46,239,000 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 GIS. Koshinski Asset Management Inc. acquired a new position in General Mills during the 4th quarter worth $293,000. JustInvest LLC grew its holdings in General Mills by 5.9% during the 4th quarter. JustInvest LLC now owns 7,546 shares of the company’s stock worth $444,000 after acquiring an additional 420 shares in the last quarter. Kentucky Retirement Systems acquired a new position in General Mills during the 4th quarter worth $2,227,000. Wolff Wiese Magana LLC acquired a new position in General Mills during the 4th quarter worth $41,000. Finally, M. Kulyk & Associates LLC acquired a new position in General Mills during the 4th quarter worth $2,663,000. 73.17% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on GIS shares. Jefferies Financial Group decreased their price objective on shares of General Mills from $64.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, January 12th. Credit Suisse Group decreased their price objective on shares of General Mills from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, March 29th. Morgan Stanley decreased their price target on shares of General Mills from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of General Mills from $62.00 to $55.00 in a report on Tuesday, January 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.27.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Tuesday, March 23rd. The company reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.45 billion. General Mills had a net margin of 13.16% and a return on equity of 28.60%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, equities analysts anticipate that General Mills, Inc. will post 3.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, April 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.32%. General Mills’s dividend payout ratio (DPR) is 56.51%.
In other General Mills news, Director R Kerry Clark sold 11,398 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $61.41, for a total transaction of $699,951.18. Following the sale, the director now directly owns 65,199 shares in the company, valued at approximately $4,003,870.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bethany C. Quam sold 10,732 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $61.72, for a total transaction of $662,379.04. Following the sale, the insider now owns 55,248 shares in the company, valued at $3,409,906.56. The disclosure for this sale can be found here. Insiders have sold a total of 62,532 shares of company stock worth $3,821,346 over the last 90 days. 0.51% of the stock is owned by insiders.
General Mills 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, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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