Raymond James Trust N.A. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,234 shares of the company’s stock after selling 6,211 shares during the quarter. Raymond James Trust N.A.’s holdings in General Mills were worth $2,034,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Lee Danner & Bass Inc. increased its position in General Mills by 1.3% during the 4th quarter. Lee Danner & Bass Inc. now owns 22,890 shares of the company’s stock valued at $891,000 after purchasing an additional 300 shares during the period. Royal London Asset Management Ltd. increased its position in General Mills by 6.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 250,401 shares of the company’s stock valued at $9,706,000 after purchasing an additional 15,765 shares during the period. Hikari Power Ltd increased its position in General Mills by 5.5% during the 4th quarter. Hikari Power Ltd now owns 285,400 shares of the company’s stock valued at $11,113,000 after purchasing an additional 14,800 shares during the period. OLD Republic International Corp increased its position in General Mills by 9.8% during the 4th quarter. OLD Republic International Corp now owns 1,023,700 shares of the company’s stock valued at $39,863,000 after purchasing an additional 91,000 shares during the period. Finally, Gilman Hill Asset Management LLC purchased a new position in General Mills during the 4th quarter valued at $4,761,000. 67.26% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director R Kerry Clark sold 7,849 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $44.26, for a total transaction of $347,396.74. Following the sale, the director now directly owns 30,215 shares of the company’s stock, valued at approximately $1,337,315.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.
A number of brokerages have issued reports on GIS. Morgan Stanley set a $41.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Friday, December 21st. Wells Fargo & Co set a $46.00 target price on shares of General Mills and gave the stock a “buy” rating in a research report on Thursday, December 20th. Piper Jaffray Companies reaffirmed an “average” rating and issued a $47.00 target price on shares of General Mills in a research report on Thursday, December 20th. Guggenheim initiated coverage on shares of General Mills in a research report on Tuesday, January 22nd. They issued a “buy” rating and a $49.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 target price on shares of General Mills in a research report on Tuesday, December 18th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $47.45.
GIS stock traded down $0.37 during trading on Friday, hitting $46.58. 9,796,319 shares of the stock traded hands, compared to its average volume of 5,151,236. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $53.43. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.36 and a current ratio of 0.58.
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 Thomson Reuters’ consensus estimate of $0.81 by $0.04. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm posted $0.82 EPS. General Mills’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts predict that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.
The company also recently disclosed 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 4.21%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is 63.02%.
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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