NEXT Financial Group Inc reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 27.3% during the 4th quarter, HoldingsChannel reports. The fund owned 14,827 shares of the company’s stock after selling 5,573 shares during the period. NEXT Financial Group Inc’s holdings in General Mills were worth $879,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GIS. YHB Investment Advisors Inc. boosted its position in shares of General Mills by 18.7% during the 2nd quarter. YHB Investment Advisors Inc. now owns 4,245 shares of the company’s stock valued at $235,000 after acquiring an additional 670 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of General Mills by 8.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 71,211 shares of the company’s stock valued at $3,945,000 after acquiring an additional 5,403 shares in the last quarter. Eads & Heald Investment Counsel boosted its position in shares of General Mills by 0.4% during the 2nd quarter. Eads & Heald Investment Counsel now owns 27,336 shares of the company’s stock valued at $1,514,000 after acquiring an additional 106 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of General Mills during the 2nd quarter valued at about $302,000. Finally, IFP Advisors Inc boosted its position in shares of General Mills by 2.4% during the 2nd quarter. IFP Advisors Inc now owns 38,645 shares of the company’s stock valued at $2,141,000 after acquiring an additional 896 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.
In other news, insider Bethany C. Quam sold 8,712 shares of the company’s 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 transaction, the insider now directly owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on GIS shares. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Jefferies Group assumed coverage on shares of General Mills in a research report on Friday, October 20th. They issued a “hold” rating and a $56.00 price target on the stock. Susquehanna Bancshares set a $57.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, December 13th. Societe Generale upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Edward Jones restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.17.
Shares of General Mills, Inc. (NYSE GIS) traded up $0.58 during mid-day trading on Tuesday, hitting $58.43. 3,960,000 shares of the stock were exchanged, compared to its average volume of 4,070,000. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $63.73. The firm has a market capitalization of $33,250.00, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.55 and a beta of 0.66. 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 announced its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $0.85 earnings per share. General Mills’s quarterly revenue was up 2.1% on a year-over-year basis. equities research analysts anticipate that General Mills, Inc. will post 3.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.35%. General Mills’s payout ratio is 71.79%.
General Mills Company 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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