Genesee Valley Trust Co. Boosts Stake in General Mills, Inc. (GIS)
Genesee Valley Trust Co. grew its position in shares of General Mills, Inc. (NYSE:GIS) by 145.4% in the fourth quarter, Holdings Channel reports. The fund owned 13,276 shares of the company’s stock after buying an additional 7,867 shares during the quarter. Genesee Valley Trust Co.’s holdings in General Mills were worth $787,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. American International Group Inc. boosted its position in shares of General Mills by 1,708.4% during the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after acquiring an additional 8,528,534 shares during the last quarter. Janus Henderson Group PLC lifted its position in General Mills by 3,178.6% in the second quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock worth $144,666,000 after buying an additional 2,531,664 shares during the last quarter. Stifel Financial Corp lifted its position in General Mills by 28,570.2% in the third quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock worth $86,610,000 after buying an additional 1,665,641 shares during the last quarter. American Century Companies Inc. lifted its position in General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after buying an additional 1,550,074 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in General Mills by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock worth $387,691,000 after buying an additional 890,262 shares during the last quarter. Hedge funds and other institutional investors own 72.84% of the company’s stock.
A number of analysts recently issued reports on the company. Argus restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. BMO Capital Markets restated a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. Susquehanna Bancshares set a $61.00 price target on General Mills and gave the stock 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 for the company in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 price target on General Mills and gave the stock a “hold” rating in a research report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.28.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts expect that General Mills, Inc. will post 3.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.58%. General Mills’s payout ratio is 71.79%.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the sale, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
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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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