Beacon Financial Group lessened its holdings in General Mills, Inc. (NYSE:GIS) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,400 shares of the company’s stock after selling 4,297 shares during the quarter. General Mills makes up approximately 1.0% of Beacon Financial Group’s holdings, making the stock its 27th biggest holding. Beacon Financial Group’s holdings in General Mills were worth $6,233,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of GIS. Legacy Advisors LLC acquired a new stake in shares of General Mills in the 1st quarter valued at approximately $31,000. Acima Private Wealth LLC acquired a new stake in shares of General Mills in the 4th quarter valued at approximately $29,000. We Are One Seven LLC acquired a new stake in shares of General Mills in the 4th quarter valued at approximately $30,000. Sageworth Trust Co acquired a new stake in shares of General Mills in the 1st quarter valued at approximately $49,000. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of General Mills in the 4th quarter valued at approximately $37,000. 68.88% of the stock is currently owned by institutional investors.
Shares of GIS stock opened at $51.72 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. The company has a market cap of $30.97 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.20 and a beta of 0.78. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $52.17.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company earned $0.79 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that General Mills, Inc. will post 3.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.79%. General Mills’s dividend payout ratio (DPR) is presently 63.02%.
In other news, CFO Donal L. Mulligan sold 126,337 shares of General Mills stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $50.00, for a total value of $6,316,850.00. Following the sale, the chief financial officer now directly owns 378,663 shares in the company, valued at $18,933,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn P. Ogrady sold 118,152 shares of General Mills stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total transaction of $5,730,372.00. Following the completion of the sale, the insider now owns 187,891 shares in the company, valued at $9,112,713.50. The disclosure for this sale can be found here. Insiders sold 452,071 shares of company stock worth $22,112,181 over the last quarter. 0.59% of the stock is owned by corporate insiders.
GIS has been the topic of a number of analyst reports. Deutsche Bank upgraded shares of General Mills from a “hold” rating to a “buy” rating and increased their price target for the company from $43.00 to $54.00 in a research report on Thursday, March 14th. Jefferies Financial Group set a $55.00 target price on shares of General Mills and gave the stock a “buy gis” rating in a report on Monday, December 24th. Wells Fargo & Co raised their target price on shares of General Mills from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. Standpoint Research assumed coverage on shares of General Mills in a report on Wednesday, December 26th. They set a “buy” rating and a $37.59 target price on the stock. Finally, Morgan Stanley set a $41.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Sunday, December 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $49.91.
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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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