Advisory Services Network LLC increased its holdings in General Mills, Inc. (NYSE:GIS) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,874 shares of the company’s stock after buying an additional 1,759 shares during the period. Advisory Services Network LLC’s holdings in General Mills were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ironwood Investment Counsel LLC grew its stake in shares of General Mills by 1.0% in the fourth quarter. Ironwood Investment Counsel LLC now owns 25,342 shares of the company’s stock worth $986,000 after purchasing an additional 243 shares during the last quarter. Nuveen Asset Management LLC boosted its position in General Mills by 1.8% during the fourth quarter. Nuveen Asset Management LLC now owns 14,470 shares of the company’s stock valued at $563,000 after acquiring an additional 261 shares during the last quarter. 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. Metropolitan Life Insurance Co. NY raised its holdings in shares of General Mills by 0.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 88,131 shares of the company’s stock valued at $3,432,000 after purchasing an additional 280 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. Institutional investors own 68.88% of the company’s stock.
Shares of GIS traded down $0.03 during trading hours on Friday, reaching $51.72. 2,321,842 shares of the company traded hands, compared to its average volume of 3,813,003. The firm has a market capitalization of $30.97 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 2.20 and a beta of 0.78. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $52.17.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.79%. General Mills’s dividend payout ratio (DPR) is currently 63.02%.
In other General Mills news, Director R Kerry Clark sold 7,849 shares of General Mills 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 transaction, the director now directly owns 30,215 shares of the company’s stock, valued at $1,337,315.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John R. Church sold 4,719 shares of General Mills 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 transaction, the insider now directly owns 34,112 shares of the company’s stock, valued at $1,732,207.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 452,071 shares of company stock valued at $22,112,181. 0.59% of the stock is currently owned by corporate insiders.
GIS has been the topic of several recent analyst reports. Deutsche Bank upgraded shares of General Mills from a “hold” rating to a “buy” rating and increased their target price for the stock from $43.00 to $54.00 in a research note on Thursday, March 14th. Jefferies Financial Group set a $55.00 target price on shares of General Mills and gave the stock a “buy gis” rating in a research note on Monday, December 24th. Wells Fargo & Co raised their price objective on shares of General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Standpoint Research began coverage on shares of General Mills in a research report on Wednesday, December 26th. They set a “buy” rating and a $37.59 price objective on the stock. Finally, Morgan Stanley set a $41.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Sunday, December 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price 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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