Advisory Services Network LLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 31.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,338 shares of the company’s stock after buying an additional 2,252 shares during the quarter. Advisory Services Network LLC’s holdings in General Mills were worth $554,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Global X Management Co. LLC grew its position in General Mills by 151.9% during the 4th quarter. Global X Management Co. LLC now owns 11,518 shares of the company’s stock valued at $683,000 after purchasing an additional 6,946 shares during the last quarter. Signition LP purchased a new stake in General Mills during the 4th quarter valued at about $855,000. Global Financial Private Capital LLC grew its position in General Mills by 7.5% during the 4th quarter. Global Financial Private Capital LLC now owns 281,936 shares of the company’s stock valued at $16,716,000 after purchasing an additional 19,622 shares during the last quarter. Toronto Dominion Bank grew its position in General Mills by 12.2% during the 4th quarter. Toronto Dominion Bank now owns 245,715 shares of the company’s stock valued at $14,564,000 after purchasing an additional 26,758 shares during the last quarter. Finally, First Trust Advisors LP grew its position in General Mills by 2.6% during the 4th quarter. First Trust Advisors LP now owns 926,704 shares of the company’s stock valued at $54,944,000 after purchasing an additional 23,138 shares during the last quarter. 72.89% of the stock is currently owned by hedge funds and other institutional investors.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. equities research analysts forecast that General Mills, Inc. will post 3.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.47%. The ex-dividend date was Tuesday, January 9th. General Mills’s dividend payout ratio is currently 71.79%.
Several analysts recently commented on the stock. Jefferies Group raised shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, February 14th. Wells Fargo & Co set a $65.00 price objective on shares of General Mills and gave the company a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Piper Jaffray Companies raised shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a research report on Wednesday, January 3rd. Finally, Susquehanna Bancshares set a $60.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.11.
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General Mills Profile
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.
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