Griffin Asset Management Inc. boosted its position in General Mills, Inc. (NYSE:GIS) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,049 shares of the company’s stock after purchasing an additional 2,090 shares during the period. Griffin Asset Management Inc.’s holdings in General Mills were worth $1,014,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GIS. Acima Private Wealth LLC bought a new stake in General Mills during the 4th quarter valued at $29,000. We Are One Seven LLC bought a new stake in General Mills during the 4th quarter valued at $30,000. BDO Wealth Advisors LLC bought a new stake in General Mills during the 4th quarter valued at $37,000. Legacy Financial Advisors Inc. raised its holdings in General Mills by 80.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock valued at $50,000 after acquiring an additional 576 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in General Mills by 25.4% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock valued at $60,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 68.88% of the company’s stock.
GIS traded down $0.03 during trading on Friday, reaching $51.72. The stock had a trading volume of 2,321,842 shares, compared to its average volume of 3,813,003. The stock has a market cap of $30.97 billion, a PE ratio of 16.63, a P/E/G ratio of 2.20 and a beta of 0.78. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61. General Mills, Inc. has a one year low of $36.42 and a one year high of $52.17.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.49 dividend. 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 is presently 63.02%.
In related news, Director R Kerry Clark sold 14,836 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $51.57, for a total value of $765,092.52. Following the transaction, the director now owns 62,211 shares of the company’s stock, valued at $3,208,221.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline Williams-Roll sold 15,920 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $51.48, for a total value of $819,561.60. Following the completion of the transaction, the insider now directly owns 44,197 shares in the company, valued at approximately $2,275,261.56. The disclosure for this sale can be found here. In the last three months, insiders sold 452,071 shares of company stock worth $22,112,181. 0.59% of the stock is owned by insiders.
GIS has been the topic of several research analyst reports. ValuEngine raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Jefferies Financial Group set a $55.00 price target on shares of General Mills and gave the stock a “buy gis” rating in a report on Monday, December 24th. Deutsche Bank raised shares of General Mills from a “hold” rating to a “buy” rating and upped their price target for the stock from $43.00 to $54.00 in a report on Thursday, March 14th. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, Standpoint Research cut shares of General Mills from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $49.91.
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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