Diligent Investors LLC raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 38.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,878 shares of the company’s stock after acquiring an additional 4,103 shares during the period. Diligent Investors LLC’s holdings in General Mills were worth $579,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Hamlin Capital Management LLC purchased a new stake in shares of General Mills during the 3rd quarter valued at about $48,392,000. Macquarie Group Ltd. increased its holdings in General Mills by 23.8% in the 3rd quarter. Macquarie Group Ltd. now owns 5,405,699 shares of the company’s stock worth $232,013,000 after acquiring an additional 1,037,852 shares in the last quarter. FMR LLC increased its holdings in General Mills by 81.3% in the 2nd quarter. FMR LLC now owns 1,563,133 shares of the company’s stock worth $69,185,000 after acquiring an additional 701,104 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in General Mills by 609.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 801,925 shares of the company’s stock worth $35,494,000 after acquiring an additional 688,816 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in General Mills by 1,566.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 728,867 shares of the company’s stock worth $28,382,000 after acquiring an additional 685,139 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.
GIS has been the subject of a number of research analyst reports. Wells Fargo & Co set a $46.00 price objective on shares of General Mills and gave the company a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research lowered shares of General Mills from a “buy” rating to a “hold” rating in a report on Monday, December 10th. Morgan Stanley set a $41.00 price objective on shares of General Mills and gave the company a “hold” rating in a report on Friday, December 21st. Barclays reaffirmed a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. Finally, Credit Suisse Group cut their price objective on shares of General Mills from $46.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.45.
GIS traded up $0.09 during trading on Friday, reaching $43.95. The company had a trading volume of 3,361,972 shares, compared to its average volume of 4,632,576. The company has a market cap of $26.23 billion, a PE ratio of 14.13, a P/E/G ratio of 1.96 and a beta of 0.76. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $56.90. The company has a quick ratio of 0.36, a current ratio of 0.58 and a debt-to-equity ratio of 1.75.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 19th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $4.41 billion during 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%. General Mills’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. As a group, research analysts anticipate that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.46%. General Mills’s dividend payout ratio (DPR) is 63.02%.
In other news, Director R Kerry Clark sold 7,849 shares of General Mills stock in a transaction 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 completion of the sale, the director now directly owns 30,215 shares in the company, valued at $1,337,315.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is currently owned by company insiders.
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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