First Manhattan Co. lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 4.0% in the 1st quarter, HoldingsChannel reports. The fund owned 92,157 shares of the company’s stock after selling 3,819 shares during the quarter. First Manhattan Co.’s holdings in General Mills were worth $4,769,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Acima Private Wealth LLC purchased a new stake in General Mills in the fourth quarter worth approximately $29,000. We Are One Seven LLC purchased a new stake in General Mills in the fourth quarter worth approximately $30,000. Legacy Advisors LLC purchased a new stake in General Mills in the first quarter worth approximately $31,000. BDO Wealth Advisors LLC purchased a new stake in General Mills in the fourth quarter worth approximately $37,000. Finally, Sageworth Trust Co purchased a new stake in General Mills in the first quarter worth approximately $49,000. 68.89% of the stock is owned by institutional investors.
In other news, CFO Donal L. Mulligan sold 120,722 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $47.50, for a total value of $5,734,295.00. Following the sale, the chief financial officer now directly owns 252,326 shares in the company, valued at approximately $11,985,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John R. Church sold 4,719 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the sale, the insider now owns 34,112 shares in the company, valued at $1,732,207.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 452,071 shares of company stock worth $22,112,181. 0.59% of the stock is currently owned by insiders.
Shares of General Mills stock opened at $51.58 on Monday. The firm has a market cap of $30.87 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $51.96. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. As a group, equities analysts expect that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 yield of 3.80%. General Mills’s dividend payout ratio is currently 63.02%.
Several equities research analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $55.00 target price on shares of General Mills in a report on Wednesday, March 20th. Wells Fargo & Co raised their target price on shares of General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a report on Friday, March 22nd. Morgan Stanley set a $41.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Friday, December 21st. Guggenheim restated a “buy” rating on shares of General Mills in a report on Tuesday, February 26th. Finally, Piper Jaffray Companies restated an “average” rating and issued a $47.00 target price on shares of General Mills in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $49.91.
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General Mills 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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