Amica Mutual Insurance Co. trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 17.3% during the 4th quarter, Holdings Channel reports. The fund owned 25,189 shares of the company’s stock after selling 5,280 shares during the quarter. Amica Mutual Insurance Co.’s holdings in General Mills were worth $1,493,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cable Hill Partners LLC grew its position in General Mills by 274.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after acquiring an additional 1,647 shares during the last quarter. Grove Bank & Trust grew its position in General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after acquiring an additional 1,878 shares during the last quarter. Spectrum Management Group Inc. bought a new position in General Mills during the 3rd quarter worth approximately $135,000. Tradewinds Capital Management LLC grew its position in General Mills by 127.3% during the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Front Row Advisors LLC bought a new position in General Mills during the 4th quarter worth approximately $166,000. Institutional investors and hedge funds own 72.89% of the company’s stock.
Several research firms recently issued reports on GIS. Credit Suisse Group restated a “neutral” rating and set a $58.00 price target (down from $62.00) on shares of General Mills in a research report on Wednesday. BMO Capital Markets restated a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. Edward Jones reiterated a “hold” rating on shares of General Mills in a report on Wednesday, December 20th. Susquehanna Bancshares set a $61.00 price objective on General Mills and gave the stock a “hold” rating in a report on Friday, January 5th. Finally, Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective for the company in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. General Mills presently has an average rating of “Hold” and a consensus target price of $57.86.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.82. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. analysts expect that General Mills, Inc. will post 3.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Tuesday, January 9th. General Mills’s payout ratio is presently 71.79%.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of 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 SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
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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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