Legacy Advisors LLC Buys Shares of 600 General Mills, Inc. (GIS)

Legacy Advisors LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 600 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Montecito Bank & Trust lifted its holdings in shares of General Mills by 2.6% in the 1st quarter. Montecito Bank & Trust now owns 7,928 shares of the company’s stock worth $410,000 after buying an additional 200 shares during the period. Ironwood Investment Counsel LLC lifted its holdings in shares of General Mills by 1.0% in the 4th quarter. Ironwood Investment Counsel LLC now owns 25,342 shares of the company’s stock worth $986,000 after buying an additional 243 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of General Mills by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 14,470 shares of the company’s stock worth $563,000 after buying an additional 261 shares during the period. Northwest Wealth Management LLC lifted its holdings in shares of General Mills by 23.1% in the 4th quarter. Northwest Wealth Management LLC now owns 1,441 shares of the company’s stock worth $56,000 after buying an additional 270 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of General Mills by 0.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 88,131 shares of the company’s stock worth $3,432,000 after buying an additional 280 shares during the period. 68.89% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Donal L. Mulligan sold 120,722 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $47.50, for a total transaction of $5,734,295.00. Following the transaction, the chief financial officer now directly owns 252,326 shares of the company’s stock, valued at approximately $11,985,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Kerry Clark sold 7,849 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the transaction, the director now directly owns 30,215 shares in the company, valued at $1,337,315.90. The disclosure for this sale can be found here. Insiders have sold a total of 452,071 shares of company stock worth $22,112,181 over the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on GIS shares. Piper Jaffray Companies reiterated an “average” rating and issued a $47.00 target price on shares of General Mills in a report on Thursday, December 20th. TheStreet upgraded General Mills from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Wells Fargo & Co set a $46.00 target price on General Mills and gave the stock a “buy” rating in a report on Thursday, December 20th. Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of General Mills in a research note on Tuesday, December 18th. Finally, UBS Group restated a “buy” rating and set a $40.00 price objective on shares of General Mills in a research note on Friday, December 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.91.

Shares of NYSE GIS opened at $51.55 on Thursday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.35. The firm has a market cap of $30.87 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.17 and a beta of 0.78. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $51.96.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 3.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.

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General Mills 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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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