General Mills, Inc. (GIS) Shares Bought by Pittenger & Anderson Inc.
Pittenger & Anderson Inc. increased its position in General Mills, Inc. (NYSE:GIS) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,935 shares of the company’s stock after buying an additional 3,655 shares during the period. Pittenger & Anderson Inc.’s holdings in General Mills were worth $1,716,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of GIS. Cable Hill Partners LLC lifted its position in shares of General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after buying an additional 1,647 shares in the last quarter. Grove Bank & Trust lifted its position in shares of General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of General Mills in the fourth quarter worth about $131,000. Tradewinds Capital Management LLC lifted its position in shares of General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after buying an additional 1,459 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new stake in shares of General Mills in the third quarter worth about $135,000. Institutional investors own 72.89% of the company’s stock.
A number of equities research analysts have issued reports on the company. Wells Fargo & Co upgraded General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price objective on the stock in a research report on Monday, December 18th. Argus restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Jefferies Group upgraded General Mills from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, February 14th. Finally, Credit Suisse Group set a $62.00 price objective on General Mills and gave the company a “hold” rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $57.64.
General Mills, Inc. (GIS) opened at $50.94 on Friday. The company has a market capitalization of $28,990.00, a P/E ratio of 18.66, a PEG ratio of 2.20 and a beta of 0.72. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $61.34. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. sell-side analysts forecast that General Mills, Inc. will post 3.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.85%. General Mills’s dividend payout ratio is 71.79%.
General Mills declared that its board has approved a share repurchase plan on Friday, February 23rd that allows the company to buyback outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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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