Independent Advisor Alliance purchased a new stake in General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,563 shares of the company’s stock, valued at approximately $847,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC raised its stake in General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock worth $110,000 after buying an additional 864 shares in the last quarter. Lenox Wealth Advisors Inc. raised its stake in General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock worth $114,000 after buying an additional 12 shares in the last quarter. Advisory Services Network LLC raised its stake in General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock worth $127,000 after buying an additional 48 shares in the last quarter. Jacobi Capital Management LLC raised its stake in General Mills by 400.0% in the third quarter. Jacobi Capital Management LLC now owns 2,500 shares of the company’s stock worth $158,000 after buying an additional 2,000 shares in the last quarter. Finally, Perennial Advisors LLC purchased a new stake in General Mills during the fourth quarter worth $165,000. Institutional investors own 69.77% of the company’s stock.
General Mills, Inc. (NYSE:GIS) opened at 60.26 on Tuesday. General Mills, Inc. has a 12-month low of $58.70 and a 12-month high of $72.95. The stock has a market cap of $34.95 billion, a P/E ratio of 22.50 and a beta of 0.56. The company has a 50 day moving average of $61.33 and a 200-day moving average of $62.51.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The business earned $3.79 billion during the quarter, compared to the consensus estimate of $3.82 billion. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. Equities analysts forecast that General Mills, Inc. will post $3.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.19%. General Mills’s dividend payout ratio (DPR) is currently 71.64%.
Your IP Address:
A number of analysts have weighed in on GIS shares. Credit Suisse Group AG restated a “neutral” rating and set a $65.00 price objective on shares of General Mills in a research note on Thursday, February 2nd. Royal Bank of Canada restated a “hold” rating on shares of General Mills in a research note on Sunday, March 12th. Zacks Investment Research lowered shares of General Mills from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Deutsche Bank AG started coverage on shares of General Mills in a research note on Wednesday, February 15th. They set a “hold” rating and a $61.00 price objective for the company. Finally, Barclays PLC reduced their price objective on shares of General Mills from $66.00 to $64.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 21st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.35.
In other news, Director Robert L. Ryan sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $60.83, for a total transaction of $1,216,600.00. Following the transaction, the director now owns 54,676 shares in the company, valued at $3,325,941.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
General Mills Company 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.
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
This story was originally published by WKRB News (http://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.wkrb13.com/markets/2024826/independent-advisor-alliance-purchases-new-position-in-general-mills-inc-gis.html
Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with MarketBeat.com's FREE daily email newsletter.