Quadrant Private Wealth Management LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) during the fourth quarter, HoldingsChannel reports. The firm purchased 8,500 shares of the company’s stock, valued at approximately $504,000.
A number of other large investors also recently made changes to their positions in the business. Cable Hill Partners LLC boosted its stake in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after purchasing an additional 1,647 shares in the last quarter. Grove Bank & Trust boosted its stake in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after purchasing an additional 1,878 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after purchasing an additional 1,459 shares in the last quarter. Spectrum Management Group Inc. acquired a new position in General Mills in the third quarter worth $135,000. Finally, Americafirst Capital Management LLC acquired a new position in General Mills in the second quarter worth $158,000. Hedge funds and other institutional investors own 72.84% of the company’s stock.
A number of equities analysts have commented on the company. Susquehanna Bancshares set a $56.00 price objective on General Mills and gave the stock a “hold” rating in a research note on Tuesday, October 17th. BMO Capital Markets reaffirmed a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Edward Jones reaffirmed a “hold” rating on shares of General Mills in a research note on Wednesday, December 20th. Piper Jaffray Companies raised General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group set a $62.00 price target on General Mills and gave the company a “hold” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the stock. General Mills currently has a consensus rating of “Hold” and a consensus target price of $58.28.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. The business had revenue of $4.20 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 earnings per share. equities analysts expect that General Mills, Inc. will post 3.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a $0.49 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. General Mills’s dividend payout ratio is presently 71.79%.
In related news, insider Bethany C. Quam sold 8,712 shares of the company’s 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 completion of the sale, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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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