American International Group Inc. raised its position in General Mills, Inc. (NYSE:GIS) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,960,631 shares of the company’s stock after buying an additional 932,891 shares during the period. General Mills comprises about 1.9% of American International Group Inc.’s portfolio, making the stock its 10th largest holding. American International Group Inc.’s holdings in General Mills were worth $590,566,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Lenox Wealth Management Inc. boosted its holdings in General Mills by 0.3% in the 2nd quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock worth $180,000 after buying an additional 11 shares during the last quarter. Associated Banc Corp boosted its holdings in General Mills by 0.3% in the 2nd quarter. Associated Banc Corp now owns 28,880 shares of the company’s stock worth $1,600,000 after buying an additional 100 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in General Mills by 3.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 4,110 shares of the company’s stock worth $228,000 after buying an additional 133 shares during the last quarter. Evercore Wealth Management LLC boosted its holdings in General Mills by 0.7% in the 2nd quarter. Evercore Wealth Management LLC now owns 27,401 shares of the company’s stock worth $1,518,000 after buying an additional 196 shares during the last quarter. Finally, Richard C. Young & CO. LTD. boosted its holdings in General Mills by 0.4% in the 2nd quarter. Richard C. Young & CO. LTD. now owns 66,746 shares of the company’s stock worth $3,698,000 after buying an additional 254 shares during the last quarter. Institutional investors own 72.59% of the company’s stock.
Several brokerages have recently weighed in on GIS. Jefferies Group upgraded General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Wednesday, February 14th. Credit Suisse Group set a $62.00 target price on General Mills and gave the stock a “hold” rating in a report on Thursday, January 18th. Susquehanna Bancshares set a $61.00 target price on General Mills and gave the stock a “hold” rating in a report on Friday, January 5th. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a report on Wednesday, January 3rd. Finally, Argus restated a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. Two research 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. General Mills has a consensus rating of “Hold” and an average target price of $58.11.
Shares of General Mills, Inc. (NYSE:GIS) opened at $56.43 on Monday. The company has a market cap of $32,110.00, a P/E ratio of 20.67, a PEG ratio of 2.48 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. General Mills, Inc. has a 12-month low of $49.65 and a 12-month high of $61.59.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. analysts forecast that General Mills, Inc. will post 3.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Tuesday, January 9th. General Mills’s payout ratio is presently 71.79%.
In other news, insider Bethany C. Quam sold 8,712 shares of General Mills stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the sale, the insider now owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.
About General Mills
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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