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%.
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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.
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