General Mills, Inc. (GIS) Shares Sold by Richard C. Young & CO. LTD.
Richard C. Young & CO. LTD. trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 36.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,976 shares of the company’s stock after selling 23,686 shares during the period. Richard C. Young & CO. LTD.’s holdings in General Mills were worth $2,489,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Truewealth LLC acquired a new stake in shares of General Mills during the fourth quarter worth $119,000. Financial Gravity Companies Inc. acquired a new stake in General Mills in the 4th quarter valued at $131,000. Cable Hill Partners LLC increased its stake in General Mills by 274.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after buying an additional 1,647 shares during the last quarter. Grove Bank & Trust increased its stake in General Mills by 322.7% in the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after buying an additional 1,878 shares during the last quarter. Finally, Spectrum Management Group Inc. acquired a new stake in General Mills in the 3rd quarter valued at $135,000. Institutional investors and hedge funds own 73.52% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) opened at $50.94 on Monday. The company has a market cap of $28,987.09, a PE ratio of 18.66, a P/E/G ratio of 2.22 and a beta of 0.72. 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, Inc. has a twelve month low of $49.65 and a twelve month high of $61.34.
General Mills announced that its board has initiated a share buyback plan on Friday, February 23rd that allows the company to repurchase shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several equities research analysts have issued reports on GIS shares. Wells Fargo & Co set a $65.00 price target on shares of General Mills and gave the company a “buy” rating in a research note on Thursday, December 21st. Jefferies Group upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Monday, February 26th. Citigroup lowered their price target on shares of General Mills from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Credit Suisse Group set a $60.00 price target on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $57.64.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the sale, the insider now owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
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About General Mills
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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