BlueCrest Capital Management Ltd purchased a new position in General Mills (NYSE:GIS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,800 shares of the company’s stock, valued at approximately $225,000.
Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after buying an additional 1,550,074 shares during the last quarter. American International Group Inc. raised its holdings in shares of General Mills by 10.3% in the fourth quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock valued at $590,566,000 after buying an additional 932,891 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of General Mills by 13.5% in the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock valued at $503,923,000 after buying an additional 1,009,126 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Mills by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock valued at $370,514,000 after buying an additional 146,687 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of General Mills by 3.8% in the third quarter. Legal & General Group Plc now owns 3,526,158 shares of the company’s stock valued at $182,549,000 after buying an additional 130,606 shares during the last quarter. 74.24% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. TheStreet cut General Mills from a “b-” rating to a “c+” rating in a report on Monday, April 2nd. Barclays restated a “hold” rating and set a $48.00 target price on shares of General Mills in a research report on Friday, March 23rd. UBS upgraded General Mills from a “neutral” rating to a “positive” rating in a research report on Friday, March 23rd. Zacks Investment Research lowered General Mills from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Finally, Susquehanna Bancshares upgraded General Mills from a “neutral” rating to a “positive” rating in a research report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven 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 $53.71.
GIS stock traded down $0.29 during trading hours on Thursday, hitting $44.58. 3,887,869 shares of the stock were exchanged, compared to its average volume of 5,537,830. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.45. The stock has a market capitalization of $25,328.14, a price-to-earnings ratio of 14.47, a PEG ratio of 2.00 and a beta of 0.76. General Mills has a 12 month low of $43.84 and a 12 month high of $60.69.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.87 billion. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. research analysts expect that General Mills will post 3.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s dividend payout ratio (DPR) is currently 63.64%.
General Mills announced that its board has initiated a stock repurchase program on Friday, February 23rd that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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About General Mills
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. 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, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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