DnB Asset Management AS Raises Position in General Mills, Inc. (GIS)
DnB Asset Management AS increased its position in shares of General Mills, Inc. (NYSE:GIS) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,942 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. DnB Asset Management AS’s holdings in General Mills were worth $4,740,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of GIS. American International Group Inc. increased its position in shares of General Mills by 1,708.4% during the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after purchasing an additional 8,528,534 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of General Mills by 3,178.6% during the second quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock worth $144,666,000 after purchasing an additional 2,531,664 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of General Mills by 94.6% during the second quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock worth $250,196,000 after purchasing an additional 2,195,397 shares in the last quarter. Stifel Financial Corp increased its position in shares of General Mills by 28,570.2% during the third quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock worth $86,610,000 after purchasing an additional 1,665,641 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of General Mills by 15.9% during the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after purchasing an additional 1,550,074 shares in the last quarter. Hedge funds and other institutional investors own 72.59% of the company’s stock.
In other news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, the insider now owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Jefferies Group assumed coverage on General Mills in a research note on Friday, October 20th. They set a “hold” rating and a $56.00 price objective on the stock. Susquehanna Bancshares set a $57.00 price objective on General Mills and gave the stock a “hold” rating in a research note on Wednesday, December 13th. Societe Generale raised General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Edward Jones reissued a “hold” rating on shares of General Mills in a research note on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $58.17.
General Mills, Inc. (GIS) opened at $57.85 on Friday. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $63.73. The company has a market capitalization of $33,055.75, a price-to-earnings ratio of 19.49, a PEG ratio of 2.56 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. sell-side analysts expect that General Mills, Inc. will post 3.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 71.79%.
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General Mills 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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