Brookstone Capital Management Reduces Stake in General Mills, Inc. (GIS)

Brookstone Capital Management lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 71.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 38,346 shares of the company’s stock after selling 96,957 shares during the quarter. Brookstone Capital Management’s holdings in General Mills were worth $1,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIS. We Are One Seven LLC acquired a new position in shares of General Mills during the fourth quarter valued at about $30,000. Legacy Financial Advisors Inc. raised its holdings in shares of General Mills by 80.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock valued at $50,000 after purchasing an additional 576 shares during the period. G&S Capital LLC raised its holdings in shares of General Mills by 27.8% during the fourth quarter. G&S Capital LLC now owns 1,403 shares of the company’s stock valued at $55,000 after purchasing an additional 305 shares during the period. Northwest Wealth Management LLC raised its holdings in shares of General Mills by 23.1% during the fourth quarter. Northwest Wealth Management LLC now owns 1,441 shares of the company’s stock valued at $56,000 after purchasing an additional 270 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in shares of General Mills by 25.4% during the third quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock valued at $60,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 68.90% of the company’s stock.

In other General Mills news, Director R Kerry Clark sold 7,849 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the sale, the director now directly owns 30,215 shares of the company’s stock, valued at approximately $1,337,315.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.

Shares of GIS stock opened at $44.47 on Thursday. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $56.90. The company has a quick ratio of 0.36, a current ratio of 0.58 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $26.70 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.97 and a beta of 0.76.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that General Mills, Inc. will post 3.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Tuesday, April 9th. General Mills’s payout ratio is 63.02%.

Several equities analysts have recently weighed in on the stock. Guggenheim began coverage on shares of General Mills in a report on Tuesday, January 22nd. They set a “buy” rating and a $49.00 price objective on the stock. Morgan Stanley set a $41.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Sunday, December 30th. Barclays restated a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. 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. Finally, Standpoint Research began coverage on shares of General Mills in a report on Wednesday, December 26th. They issued a “buy” rating and a $37.59 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $47.45.

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About General Mills

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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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