Inlet Private Wealth LLC bought a new stake in General Mills, Inc. (NYSE:GIS) in the 1st quarter, HoldingsChannel reports. The firm bought 4,812 shares of the company’s stock, valued at approximately $249,000.
A number of other large investors also recently modified their holdings of the business. Barry Investment Advisors LLC grew its holdings in shares of General Mills by 2.6% during the 1st quarter. Barry Investment Advisors LLC now owns 157,851 shares of the company’s stock worth $8,169,000 after purchasing an additional 3,949 shares during the period. NewFocus Financial Group LLC grew its holdings in shares of General Mills by 9.3% during the 1st quarter. NewFocus Financial Group LLC now owns 26,256 shares of the company’s stock worth $1,359,000 after purchasing an additional 2,240 shares during the period. Glenview State Bank Trust DEPT. purchased a new position in shares of General Mills during the 1st quarter worth $205,000. Bank of Montreal Can grew its holdings in shares of General Mills by 3.4% during the 1st quarter. Bank of Montreal Can now owns 894,625 shares of the company’s stock worth $46,296,000 after purchasing an additional 29,548 shares during the period. Finally, SPC Financial Inc. grew its holdings in shares of General Mills by 3.2% during the 1st quarter. SPC Financial Inc. now owns 7,970 shares of the company’s stock worth $412,000 after purchasing an additional 250 shares during the period. Institutional investors own 68.94% of the company’s stock.
In other General Mills news, insider Shawn P. Ogrady sold 118,152 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total value of $5,730,372.00. Following the sale, the insider now owns 187,891 shares of the company’s stock, valued at approximately $9,112,713.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Church sold 4,719 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the sale, the insider now directly owns 34,112 shares in the company, valued at approximately $1,732,207.36. The disclosure for this sale can be found here. Insiders sold a total of 452,071 shares of company stock worth $22,112,181 in the last ninety days. 0.59% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on GIS. Credit Suisse Group increased their price target on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Guggenheim reiterated a “buy” rating on shares of General Mills in a report on Tuesday, February 26th. Citigroup reiterated a “top pick” rating and set a $60.00 price target (up from $54.00) on shares of General Mills in a report on Thursday, March 21st. ValuEngine upgraded General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Wells Fargo & Co increased their price target on General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.91.
GIS opened at $51.09 on Monday. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $52.17. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61. The stock has a market cap of $30.59 billion, a P/E ratio of 16.43, a PEG ratio of 2.17 and a beta of 0.78.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company earned $0.79 EPS. General Mills’s revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 3.14 earnings per share for the current 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 given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.
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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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