GHP Investment Advisors Inc. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,047 shares of the company’s stock after selling 4,143 shares during the quarter. GHP Investment Advisors Inc.’s holdings in General Mills were worth $2,849,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avestar Capital LLC purchased a new position in General Mills in the fourth quarter valued at approximately $100,000. Truewealth LLC bought a new stake in General Mills during the 4th quarter valued at $119,000. Financial Gravity Companies Inc. bought a new stake in General Mills during the 4th quarter valued at $131,000. Cable Hill Partners LLC raised its holdings in General Mills by 274.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares during the period. Finally, Grove Bank & Trust raised its holdings in General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after acquiring an additional 1,878 shares during the period. 74.20% of the stock is currently owned by institutional investors.
Shares of GIS stock traded down $4.42 during midday trading on Wednesday, reaching $45.51. 25,122,617 shares of the company’s stock were exchanged, compared to its average volume of 4,770,372. General Mills, Inc. has a one year low of $44.79 and a one year high of $60.69. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market cap of $28,571.69, a P/E ratio of 16.64, a P/E/G ratio of 2.08 and a beta of 0.72.
General Mills (NYSE:GIS) last posted its earnings results on Monday, March 19th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. equities analysts anticipate that General Mills, Inc. will post 3.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.96 annualized dividend and a yield of 4.31%. General Mills’s dividend payout ratio (DPR) is 71.79%.
General Mills declared that its board has approved a stock repurchase program on Friday, February 23rd that permits the company to buyback shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have recently weighed in on GIS shares. Susquehanna Bancshares set a $61.00 price target on shares of General Mills and gave the stock a “hold” rating in a report on Friday, February 23rd. Piper Jaffray Companies upgraded shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. cut their price target on shares of General Mills from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, March 14th. Edward Jones reiterated a “hold” rating on shares of General Mills in a report on Wednesday, December 20th. Finally, Societe Generale downgraded shares of General Mills from a “buy” rating to a “hold” rating and decreased their price target for the stock from $52.98 to $48.00 in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $57.21.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were 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 of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is owned by insiders.
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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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