SPC Financial Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.2% during the 1st quarter, Holdings Channel reports. The fund owned 7,970 shares of the company’s stock after purchasing an additional 250 shares during the quarter. SPC Financial Inc.’s holdings in General Mills were worth $412,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of GIS. Legacy Advisors LLC purchased a new position in General Mills during the first quarter valued at $31,000. Acima Private Wealth LLC purchased a new position in General Mills during the fourth quarter valued at $29,000. We Are One Seven LLC purchased a new position in General Mills during the fourth quarter valued at $30,000. Sageworth Trust Co purchased a new position in General Mills during the first quarter valued at $49,000. Finally, BDO Wealth Advisors LLC purchased a new position in General Mills during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 68.94% of the company’s stock.
GIS stock opened at $51.09 on Monday. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $52.17. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.35. The firm has a market capitalization of $30.59 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.
In other news, insider Jodi J. Benson sold 5,054 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $50.51, for a total value of $255,277.54. Following the completion of the transaction, the insider now owns 38,212 shares in the company, valued at $1,930,088.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John R. Church sold 4,719 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The disclosure for this sale can be found here. Insiders sold 452,071 shares of company stock valued at $22,112,181 in the last 90 days. Company insiders own 0.59% of the company’s stock.
A number of research analysts have issued reports on GIS shares. TheStreet upgraded General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $54.00 in a research note on Thursday, March 14th. Guggenheim reiterated a “buy” rating on shares of General Mills in a research note on Tuesday, February 26th. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of General Mills in a research note on Wednesday, March 20th. Finally, Morgan Stanley lifted their price objective on General Mills from $41.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $49.91.
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General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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