Marco Investment Management LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,310 shares of the company’s stock after selling 6,000 shares during the quarter. Marco Investment Management LLC’s holdings in General Mills were worth $2,568,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Albert D Mason Inc. grew its stake in General Mills by 17.0% during the 3rd quarter. Albert D Mason Inc. now owns 21,170 shares of the company’s stock valued at $1,096,000 after acquiring an additional 3,075 shares in the last quarter. Advisor Group Inc. grew its stake in shares of General Mills by 7.4% in the 3rd quarter. Advisor Group Inc. now owns 79,871 shares of the company’s stock valued at $4,136,000 after buying an additional 5,472 shares in the last quarter. Putnam FL Investment Management Co. bought a new stake in shares of General Mills in the 3rd quarter valued at approximately $376,000. Northside Capital Management LLC grew its stake in shares of General Mills by 224.6% in the 4th quarter. Northside Capital Management LLC now owns 27,305 shares of the company’s stock valued at $1,619,000 after buying an additional 18,894 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of General Mills by 4.7% in the 4th quarter. Fulton Bank N.A. now owns 42,612 shares of the company’s stock valued at $2,526,000 after buying an additional 1,895 shares in the last quarter. 74.20% of the stock is currently owned by institutional investors.
In related news, insider Bethany C. Quam sold 8,712 shares of the business’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 sale, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
GIS has been the subject of several recent research reports. Jefferies Group raised General Mills from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, February 14th. Wells Fargo raised General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research note on Monday, December 18th. Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Argus reissued a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. Finally, Credit Suisse Group set a $62.00 price target on General Mills and gave the company a “hold” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $57.21.
Shares of General Mills, Inc. (NYSE GIS) opened at $50.21 on Tuesday. General Mills, Inc. has a 1-year low of $49.65 and a 1-year high of $60.95. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $28,731.02, a P/E ratio of 18.39, a P/E/G ratio of 2.09 and a beta of 0.72.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. analysts predict that General Mills, Inc. will post 3.17 earnings per share for the current year.
General Mills declared that its Board of Directors has approved a share repurchase program on Friday, February 23rd that allows the company to buyback shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.90%. General Mills’s dividend payout ratio (DPR) is currently 71.79%.
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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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