Edmp Inc. lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,346 shares of the company’s stock after purchasing an additional 610 shares during the period. General Mills comprises about 1.5% of Edmp Inc.’s investment portfolio, making the stock its 22nd biggest holding. Edmp Inc.’s holdings in General Mills were worth $1,376,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Legacy Financial Advisors Inc. lifted its holdings in General Mills by 80.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock worth $50,000 after acquiring an additional 576 shares during the last quarter. G&S Capital LLC raised its holdings in General Mills by 27.8% during the fourth quarter. G&S Capital LLC now owns 1,403 shares of the company’s stock worth $55,000 after purchasing an additional 305 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in General Mills by 25.4% during the third quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock worth $60,000 after purchasing an additional 281 shares in the last quarter. Moody National Bank Trust Division raised its holdings in General Mills by 28.3% during the fourth quarter. Moody National Bank Trust Division now owns 2,214 shares of the company’s stock worth $86,000 after purchasing an additional 489 shares in the last quarter. Finally, Highwater Wealth Management LLC bought a new stake in General Mills during the fourth quarter worth approximately $87,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE GIS traded up $0.09 during trading on Friday, hitting $43.95. The company had a trading volume of 3,361,972 shares, compared to its average volume of 4,632,576. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $56.90. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.36 and a current ratio of 0.58. The stock has a market capitalization of $26.23 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.97 and a beta of 0.76.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the company posted $0.82 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts forecast that General Mills, Inc. will post 3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, April 9th. General Mills’s payout ratio is 63.02%.
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 shares were sold at an average price of $44.26, for a total transaction of $347,396.74. Following the transaction, the director now directly owns 30,215 shares in the company, valued at approximately $1,337,315.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.59% of the company’s stock.
Several equities research analysts recently commented on the company. Guggenheim assumed coverage on General Mills in a report on Tuesday, January 22nd. They set a “buy” rating and a $49.00 target price on the stock. Morgan Stanley set a $41.00 target price on General Mills and gave the stock a “hold” rating in a report on Sunday, December 30th. Barclays reissued a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. Piper Jaffray Companies reissued an “average” rating and set a $47.00 target price on shares of General Mills in a report on Thursday, December 20th. Finally, Standpoint Research assumed coverage on General Mills in a report on Wednesday, December 26th. They set a “buy” rating and a $37.59 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $47.45.
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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