Bessemer Group Inc. Reduces Stake in General Mills, Inc. (GIS)
Bessemer Group Inc. trimmed its position in General Mills, Inc. (NYSE:GIS) by 11.0% in the fourth quarter, Holdings Channel reports. The fund owned 18,365 shares of the company’s stock after selling 2,271 shares during the quarter. Bessemer Group Inc.’s holdings in General Mills were worth $1,089,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cable Hill Partners LLC increased its holdings in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the period. Grove Bank & Trust increased its holdings in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares during the period. Tradewinds Capital Management LLC increased its holdings in General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after purchasing an additional 1,459 shares during the period. Spectrum Management Group Inc. acquired a new stake in General Mills in the third quarter valued at $135,000. Finally, Americafirst Capital Management LLC acquired a new stake in General Mills in the second quarter valued at $158,000. Institutional investors own 72.84% of the company’s stock.
Shares of General Mills, Inc. (GIS) opened at $53.99 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. General Mills, Inc. has a 1-year low of $49.65 and a 1-year high of $63.73. The firm has a market capitalization of $30,720.00, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a dividend of $0.49 per share. The ex-dividend date was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.63%. General Mills’s payout ratio is currently 71.79%.
GIS has been the subject of a number of recent research reports. Susquehanna Bancshares set a $56.00 price objective on General Mills and gave the company a “hold” rating in a report on Tuesday, October 17th. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Jefferies Group initiated coverage on General Mills in a report on Friday, October 20th. They issued a “hold” rating and a $56.00 price objective for the company. Royal Bank of Canada set a $58.00 price objective on General Mills and gave the company a “hold” rating in a report on Monday, October 23rd. Finally, Societe Generale upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and an average price target of $58.28.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the sale, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.
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General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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