LPL Financial LLC increased its stake in General Mills, Inc. (NYSE:GIS) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 378,047 shares of the company’s stock after buying an additional 44,840 shares during the quarter. LPL Financial LLC owned about 0.07% of General Mills worth $22,414,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of GIS. American International Group Inc. lifted its position in General Mills by 1,708.4% in the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after buying an additional 8,528,534 shares during the last quarter. Stifel Financial Corp lifted its position in General Mills by 28,570.2% in the third quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock worth $86,610,000 after buying an additional 1,665,641 shares during the last quarter. American Century Companies Inc. lifted its position in General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after buying an additional 1,550,074 shares during the last quarter. Bank of New York Mellon Corp lifted its position in General Mills by 13.5% in the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after buying an additional 1,009,126 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in General Mills in the fourth quarter worth $50,956,000. Institutional investors own 74.34% of the company’s stock.
A number of analysts recently issued reports on GIS shares. Susquehanna Bancshares set a $57.00 price target on General Mills and gave the stock a “hold” rating in a research report on Wednesday, December 13th. Edward Jones restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 20th. Credit Suisse Group restated a “neutral” rating and issued a $58.00 price target (down from $62.00) on shares of General Mills in a research report on Wednesday, February 21st. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Finally, Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. General Mills has an average rating of “Hold” and an average target price of $57.38.
General Mills, Inc. (GIS) opened at $50.49 on Friday. The company has a market capitalization of $28,981.40, a price-to-earnings ratio of 18.49, a PEG ratio of 2.11 and a beta of 0.72. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $61.15.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the 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 return on equity of 38.89% and a net margin of 10.29%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. analysts forecast that General Mills, Inc. will post 3.17 EPS for the current year.
General Mills declared that its Board of Directors has approved a stock repurchase plan on Friday, February 23rd that permits the company to buyback outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
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General Mills 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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