Berkshire Asset Management LLC PA Purchases 30,547 Shares of General Mills, Inc. (GIS)
Berkshire Asset Management LLC PA increased its position in shares of General Mills, Inc. (NYSE:GIS) by 8.7% in the 4th quarter, HoldingsChannel reports. The fund owned 380,218 shares of the company’s stock after buying an additional 30,547 shares during the quarter. General Mills comprises about 2.2% of Berkshire Asset Management LLC PA’s holdings, making the stock its 12th biggest position. Berkshire Asset Management LLC PA’s holdings in General Mills were worth $22,543,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Cable Hill Partners LLC raised its holdings in General Mills by 274.5% during the third 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 in the last quarter. Grove Bank & Trust raised its holdings in General Mills by 322.7% during the third 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 in the last quarter. Spectrum Management Group Inc. bought a new position in General Mills during the third quarter valued at about $135,000. Tradewinds Capital Management LLC raised its holdings in General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after buying an additional 1,459 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new position in General Mills during the second quarter valued at about $158,000. Institutional investors and hedge funds own 72.58% of the company’s stock.
In related news, insider Bethany C. Quam sold 8,712 shares of General Mills 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 sale, the insider now directly owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.
Several research firms have weighed in on GIS. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a report on Wednesday, January 3rd. Susquehanna Bancshares set a $56.00 target price on General Mills and gave the company a “hold” rating in a report on Tuesday, October 17th. Argus restated a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. Goldman Sachs Group restated a “sell” rating on shares of General Mills in a report on Wednesday, October 4th. Finally, Wells Fargo & Co lowered their price target on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a research report on Friday, September 22nd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.17.
Shares of General Mills, Inc. (NYSE GIS) opened at $59.12 on Thursday. The stock has a market capitalization of $33,640.00, a PE ratio of 21.66, a PEG ratio of 2.55 and a beta of 0.66. General Mills, Inc. has a 1 year low of $49.65 and a 1 year high of $63.73. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. sell-side analysts predict that General Mills, Inc. will post 3.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 71.79%.
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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