Smithfield Trust Co. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,396 shares of the company’s stock after selling 341 shares during the quarter. Smithfield Trust Co.’s holdings in General Mills were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. BlackRock Inc. grew its stake in General Mills by 2.6% in the 4th quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock valued at $1,593,046,000 after purchasing an additional 1,049,722 shares during the period. American International Group Inc. grew its stake in General Mills by 4.7% in the 4th quarter. American International Group Inc. now owns 9,682,820 shares of the company’s stock valued at $377,049,000 after purchasing an additional 436,177 shares during the period. Geode Capital Management LLC grew its stake in General Mills by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock valued at $281,036,000 after purchasing an additional 473,831 shares during the period. Morgan Stanley grew its stake in General Mills by 6.6% in the 3rd quarter. Morgan Stanley now owns 5,688,684 shares of the company’s stock valued at $244,156,000 after purchasing an additional 354,443 shares during the period. Finally, Federated Investors Inc. PA grew its stake in General Mills by 6.8% in the 3rd quarter. Federated Investors Inc. PA now owns 5,556,622 shares of the company’s stock valued at $238,491,000 after purchasing an additional 353,392 shares during the period. Hedge funds and other institutional investors own 69.00% of the company’s stock.
A number of research analysts have issued reports on GIS shares. ValuEngine upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and upped their price objective for the company from $43.00 to $54.00 in a research note on Thursday, March 14th. TheStreet raised General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Standpoint Research cut General Mills from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. Finally, Credit Suisse Group upped their price target on General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. General Mills presently has an average rating of “Hold” and an average target price of $49.91.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts expect that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.83%. General Mills’s dividend payout ratio (DPR) is 63.02%.
In related news, Director R Kerry Clark sold 14,836 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $51.57, for a total transaction of $765,092.52. Following the sale, the director now owns 62,211 shares of the company’s stock, valued at approximately $3,208,221.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John R. Church sold 4,719 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following 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 have sold a total of 444,222 shares of company stock worth $21,764,784 in the last three months. 0.59% of the stock is currently owned by insiders.
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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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