First Midwest Bank Trust Division reduced its holdings in General Mills, Inc. (NYSE:GIS) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,518 shares of the company’s stock after selling 3,677 shares during the quarter. First Midwest Bank Trust Division’s holdings in General Mills were worth $721,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Hamlin Capital Management LLC acquired a new position in General Mills during the third quarter worth $48,392,000. Macquarie Group Ltd. raised its holdings in General Mills by 23.8% during the third quarter. Macquarie Group Ltd. now owns 5,405,699 shares of the company’s stock worth $232,013,000 after purchasing an additional 1,037,852 shares during the last quarter. FMR LLC raised its holdings in General Mills by 81.3% during the second quarter. FMR LLC now owns 1,563,133 shares of the company’s stock worth $69,185,000 after purchasing an additional 701,104 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in General Mills by 609.0% during the second quarter. Glenmede Trust Co. NA now owns 801,925 shares of the company’s stock worth $35,494,000 after purchasing an additional 688,816 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in General Mills by 1,566.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 728,867 shares of the company’s stock worth $28,382,000 after purchasing an additional 685,139 shares during the last quarter. 68.56% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on General Mills from $48.00 to $47.00 and set a “hold” rating for the company in a report on Thursday, September 20th. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Wells Fargo & Co set a $46.00 price objective on General Mills and gave the stock a “buy” rating in a report on Thursday, December 20th. Bank of America reaffirmed a “neutral” rating and set a $45.00 price objective (down from $49.00) on shares of General Mills in a report on Friday, December 7th. Finally, Barclays reaffirmed a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.37.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.51 billion. General Mills had a return on equity of 29.44% and a net margin of 12.48%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, research analysts anticipate that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Wednesday, January 9th. General Mills’s dividend payout ratio is currently 63.02%.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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