OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in General Mills, Inc. (NYSE:GIS) by 50.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,160 shares of the company’s stock after acquiring an additional 10,800 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in General Mills were worth $1,907,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in GIS. American Century Companies Inc. increased its position in shares of General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after purchasing an additional 1,550,074 shares during the last quarter. American International Group Inc. increased its position in shares of General Mills by 10.3% during the 4th quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock valued at $590,566,000 after purchasing an additional 932,891 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of General Mills by 13.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock valued at $503,923,000 after purchasing an additional 1,009,126 shares during the last quarter. Geode Capital Management LLC increased its position in shares of General Mills by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock valued at $370,514,000 after purchasing an additional 146,687 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of General Mills by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 3,526,158 shares of the company’s stock valued at $182,549,000 after purchasing an additional 130,606 shares during the last quarter. 74.20% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on GIS. Stifel Nicolaus reduced their price objective on General Mills from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday. Piper Jaffray Companies reduced their price objective on General Mills to $49.00 and set a “neutral” rating on the stock in a research report on Thursday. Societe Generale upgraded General Mills from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research report on Thursday. BMO Capital Markets restated a “hold” rating and set a $51.00 price target on shares of General Mills in a research report on Thursday. Finally, Credit Suisse Group restated a “hold” rating and set a $55.00 price target on shares of General Mills in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.93.
Shares of General Mills stock opened at $45.45 on Thursday. The firm has a market capitalization of $28,412.36, a P/E ratio of 16.67, a PEG ratio of 2.07 and a beta of 0.72. General Mills, Inc. has a 1 year low of $44.79 and a 1 year high of $60.69. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.87 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. equities research analysts anticipate that General Mills, Inc. will post 3.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s payout ratio is presently 71.79%.
General Mills declared that its board has approved a share buyback plan on Friday, February 23rd that permits the company to repurchase shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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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