Alps Advisors Inc. Acquires New Stake in General Mills, Inc. (GIS)
Alps Advisors Inc. acquired a new position in General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 859,438 shares of the company’s stock, valued at approximately $50,956,000.
Several other hedge funds have also modified their holdings of GIS. Cable Hill Partners LLC raised its position 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 purchasing an additional 1,647 shares in the last quarter. Grove Bank & Trust raised its position 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 purchasing an additional 1,878 shares in the last quarter. Spectrum Management Group Inc. purchased a new stake in General Mills during the third quarter valued at about $135,000. Tradewinds Capital Management LLC raised its position 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 purchasing an additional 1,459 shares in the last quarter. Finally, Front Row Advisors LLC purchased a new stake in General Mills during the fourth quarter valued at about $166,000. Institutional investors own 72.84% of the company’s stock.
General Mills, Inc. (NYSE:GIS) opened at $55.78 on Wednesday. The company has a market capitalization of $31,740.00, a PE ratio of 20.43, a PEG ratio of 2.47 and a beta of 0.61. 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, Inc. has a twelve month low of $49.65 and a twelve month high of $63.73.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.51%. General Mills’s dividend payout ratio is currently 71.79%.
A number of research firms have weighed in on GIS. Credit Suisse Group set a $62.00 price target on General Mills and gave the company a “hold” rating in a research report on Thursday, January 18th. Susquehanna Bancshares set a $61.00 price target on General Mills and gave the company a “hold” rating in a research report on Friday, January 5th. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research report on Wednesday, January 3rd. Argus restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Finally, BMO Capital Markets restated a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. 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. The company currently has a consensus rating of “Hold” and a consensus price target of $58.28.
In other 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 value of $517,492.80. Following the transaction, the insider now owns 36,089 shares in the company, 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 currently owned by insiders.
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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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