Bridge Creek Capital Management LLC grew its position in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,810 shares of the company’s stock after buying an additional 235 shares during the period. General Mills comprises 1.4% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 24th largest position. Bridge Creek Capital Management LLC’s holdings in General Mills were worth $4,643,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in General Mills by 9.0% during the second quarter. LPL Financial LLC now owns 764,816 shares of the company’s stock worth $48,382,000 after purchasing an additional 63,113 shares during the last quarter. BOKF NA raised its holdings in shares of General Mills by 1.8% during the second quarter. BOKF NA now owns 24,621 shares of the company’s stock worth $1,558,000 after purchasing an additional 428 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of General Mills by 7.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 47,411 shares of the company’s stock worth $2,999,000 after buying an additional 3,270 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of General Mills by 48.8% in the 2nd quarter. Meeder Advisory Services Inc. now owns 12,349 shares of the company’s stock valued at $781,000 after buying an additional 4,052 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of General Mills by 6.0% during the 2nd quarter. Parallel Advisors LLC now owns 21,716 shares of the company’s stock valued at $1,374,000 after buying an additional 1,238 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GIS. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. TD Cowen dropped their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus decreased their price objective on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. Finally, Barclays decreased their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $71.31.
General Mills Trading Up 1.4 %
GIS stock traded up $0.82 during mid-day trading on Monday, reaching $59.32. 3,146,117 shares of the stock traded hands, compared to its average volume of 4,317,748. The stock’s fifty day moving average is $64.51 and its 200-day moving average is $67.70. The company has a market cap of $32.70 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.47 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 52-week low of $58.27 and a 52-week high of $75.90.
General Mills (NYSE:GIS – Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current year.
General Mills Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is 52.17%.
Insider Buying and Selling
In other General Mills news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,624 shares of company stock valued at $3,897,326. Corporate insiders own 0.26% of the company’s stock.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.
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