Physicians Financial Services Inc. grew its position in General Mills, Inc. (NYSE:GIS) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,405 shares of the company’s stock after acquiring an additional 701 shares during the quarter. Physicians Financial Services Inc.’s holdings in General Mills were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Calamos Advisors LLC lifted its holdings in shares of General Mills by 1.0% in the 1st quarter. Calamos Advisors LLC now owns 150,708 shares of the company’s stock worth $7,799,000 after buying an additional 1,509 shares during the period. Northside Capital Management LLC raised its position in shares of General Mills by 0.7% in the 1st quarter. Northside Capital Management LLC now owns 28,470 shares of the company’s stock worth $1,473,000 after acquiring an additional 210 shares in the last quarter. Cardinal Capital Management raised its position in shares of General Mills by 0.9% in the 1st quarter. Cardinal Capital Management now owns 109,954 shares of the company’s stock worth $5,690,000 after acquiring an additional 990 shares in the last quarter. Bell Asset Management Ltd raised its position in shares of General Mills by 4.2% in the 1st quarter. Bell Asset Management Ltd now owns 187,712 shares of the company’s stock worth $9,714,000 after acquiring an additional 7,524 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in shares of General Mills by 62.2% in the 1st quarter. Moody National Bank Trust Division now owns 3,592 shares of the company’s stock worth $186,000 after acquiring an additional 1,378 shares in the last quarter. 69.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GIS traded down $0.08 during midday trading on Friday, hitting $51.18. The company had a trading volume of 2,407,957 shares, compared to its average volume of 4,592,736. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $52.17. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. The stock has a market cap of $30.65 billion, a PE ratio of 16.46, a P/E/G ratio of 2.19 and a beta of 0.77.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.83%. General Mills’s dividend payout ratio is currently 63.02%.
In related news, insider John R. Church sold 4,719 shares of General Mills stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now directly owns 34,112 shares in the company, valued at $1,732,207.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donal L. Mulligan sold 120,722 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.50, for a total value of $5,734,295.00. Following the completion of the sale, the chief financial officer now owns 252,326 shares in the company, valued at $11,985,485. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,222 shares of company stock valued at $21,764,784. Company insiders own 0.59% of the company’s stock.
Several research analysts recently issued reports on the company. Wells Fargo & Co upped their target price on General Mills from $53.00 to $56.00 and gave the company a “positive” rating in a research report on Friday, March 22nd. Morgan Stanley boosted their price target on General Mills from $41.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Citigroup reiterated a “top pick” rating and set a $60.00 price target (up previously from $54.00) on shares of General Mills in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their price target on General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Finally, Credit Suisse Group upped their target price on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price 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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