Paloma Partners Management Co reduced its position in General Mills, Inc. (NYSE:GIS) by 52.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 85,053 shares of the company’s stock after selling 92,181 shares during the period. Paloma Partners Management Co’s holdings in General Mills were worth $5,043,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Avestar Capital LLC bought a new stake in General Mills in the fourth quarter valued at about $100,000. Truewealth LLC bought a new stake in General Mills in the fourth quarter valued at about $119,000. Financial Gravity Companies Inc. bought a new stake in General Mills in the fourth quarter valued at about $131,000. Cable Hill Partners LLC increased its holdings in General Mills by 274.5% in 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 during the last quarter. Finally, Grove Bank & Trust grew its holdings in shares of 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 during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.
General Mills, Inc. (NYSE:GIS) opened at $51.97 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $29,277.30, a P/E ratio of 17.26, a PEG ratio of 2.13 and a beta of 0.72. General Mills, Inc. has a 52-week low of $49.65 and a 52-week high of $61.34.
General Mills declared that its Board of Directors has initiated a stock buyback program on Friday, February 23rd that allows the company to buyback shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently commented on the company. 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 General Mills and gave the company a “hold” rating in a report on Friday, January 5th. Piper Jaffray Companies raised 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 General Mills and gave the company a “hold” rating in a report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.64.
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 stock was 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 in the company, valued at $2,143,686.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.
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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