Motco Cuts Stake in General Mills, Inc. (GIS)
Motco decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,346 shares of the company’s stock after selling 3,933 shares during the period. Motco’s holdings in General Mills were worth $3,400,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in GIS. Cable Hill Partners LLC boosted its stake in General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after acquiring an additional 1,647 shares in the last quarter. Grove Bank & Trust boosted its stake in General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after acquiring an additional 1,878 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after acquiring an additional 1,459 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in General Mills during the third quarter worth about $135,000. Finally, Americafirst Capital Management LLC bought a new stake in General Mills during the second quarter worth about $158,000. 72.84% of the stock is currently owned by hedge funds and other institutional investors.
General Mills, Inc. (GIS) opened at $53.99 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.53 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 firm has a market cap of $31,098.24, a P/E ratio of 19.78, a PEG ratio of 2.41 and a beta of 0.61.
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 dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.63%. General Mills’s payout ratio is 71.79%.
In other news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
GIS has been the subject of several recent analyst reports. Argus reaffirmed a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. BMO Capital Markets reaffirmed a “neutral” rating on shares of General Mills in a report on Friday, December 22nd. Susquehanna Bancshares set a $61.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Friday, January 5th. Piper Jaffray Companies raised shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a report on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Thursday, December 21st. 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 company’s stock. General Mills presently has a consensus rating of “Hold” and an average price target of $58.28.
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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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