Clear Perspective Advisors LLC raised its position in General Mills, Inc. (NYSE:GIS) by 28.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,561 shares of the company’s stock after acquiring an additional 1,450 shares during the period. Clear Perspective Advisors LLC’s holdings in General Mills were worth $255,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in GIS. Hamlin Capital Management LLC purchased a new position in shares of General Mills during the third quarter valued at approximately $48,392,000. Macquarie Group Ltd. boosted its position in shares of General Mills by 23.8% during the third quarter. Macquarie Group Ltd. now owns 5,405,699 shares of the company’s stock valued at $232,013,000 after buying an additional 1,037,852 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of General Mills during the fourth quarter valued at approximately $33,087,000. Steward Partners Investment Advisory LLC boosted its position in shares of General Mills by 1,566.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 728,867 shares of the company’s stock valued at $28,382,000 after buying an additional 685,139 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of General Mills by 191.6% during the third quarter. Retirement Systems of Alabama now owns 811,040 shares of the company’s stock valued at $34,810,000 after buying an additional 532,891 shares during the last quarter. 68.90% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. Guggenheim assumed coverage on General Mills in a research report on Tuesday, January 22nd. They set a “buy” rating and a $49.00 target price on the stock. Morgan Stanley set a $41.00 price target on General Mills and gave the stock a “hold” rating in a report on Friday, December 21st. Wells Fargo & Co set a $46.00 price target on General Mills and gave the stock a “buy” rating in a report on Thursday, December 20th. Bank of America reiterated a “neutral” rating and set a $45.00 price target (down from $49.00) on shares of General Mills in a report on Friday, December 7th. Finally, Barclays reiterated a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.45.
In other news, Director R Kerry Clark sold 7,849 shares of General Mills stock in a transaction on Friday, February 1st. The stock was sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the transaction, the director now directly owns 30,215 shares in the company, valued at $1,337,315.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by insiders.
Shares of NYSE GIS opened at $43.95 on Monday. The firm has a market capitalization of $26.23 billion, a PE ratio of 14.00, a P/E/G ratio of 1.97 and a beta of 0.76. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $56.90. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.58 and a quick ratio of 0.36.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 19th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.51 billion. General Mills had a return on equity of 29.44% and a net margin of 12.48%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, equities research analysts predict that General Mills, Inc. will post 3.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is presently 63.02%.
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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