Gamco Investors INC. ET AL lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,961,040 shares of the company’s stock after selling 140,056 shares during the period. Gamco Investors INC. ET AL owned about 0.34% of General Mills worth $88,364,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its position in shares of General Mills by 0.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 191,721 shares of the company’s stock valued at $11,367,000 after purchasing an additional 933 shares during the last quarter. Cardinal Capital Management lifted its stake in shares of General Mills by 1.7% in the fourth quarter. Cardinal Capital Management now owns 61,127 shares of the company’s stock valued at $3,624,000 after buying an additional 1,009 shares during the period. Capital Investment Advisory Services LLC lifted its stake in shares of General Mills by 15.6% in the fourth quarter. Capital Investment Advisory Services LLC now owns 7,533 shares of the company’s stock valued at $447,000 after buying an additional 1,019 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in General Mills by 6.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 18,832 shares of the company’s stock worth $1,117,000 after purchasing an additional 1,080 shares during the period. Finally, Buckingham Asset Management LLC lifted its stake in General Mills by 23.1% during the fourth quarter. Buckingham Asset Management LLC now owns 5,794 shares of the company’s stock worth $344,000 after purchasing an additional 1,086 shares during the period. Institutional investors own 74.66% of the company’s stock.
In other General Mills news, CEO Jeffrey L. Harmening bought 6,000 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were purchased at an average price of $42.18 per share, for a total transaction of $253,080.00. Following the transaction, the chief executive officer now directly owns 114,696 shares in the company, valued at approximately $4,837,877.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.
General Mills stock opened at $44.51 on Friday. General Mills, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $60.69. The stock has a market cap of $25.28 billion, a PE ratio of 14.45, a PEG ratio of 1.90 and a beta of 0.77. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.34.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the business earned $0.72 EPS. General Mills’s quarterly revenue was up 2.3% on a year-over-year basis. research analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.
General Mills announced that its Board of Directors has authorized a share buyback program on Friday, February 23rd that permits the company to buyback shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
A number of brokerages have commented on GIS. Goldman Sachs Group restated a “neutral” rating and set a $47.00 price target on shares of General Mills in a research note on Thursday, May 31st. Piper Jaffray Companies set a $45.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Tuesday, June 5th. Barclays reiterated a “hold” rating and issued a $48.00 target price on shares of General Mills in a research note on Friday, March 23rd. Susquehanna Bancshares set a $50.00 price target on shares of General Mills and gave the company a “buy” rating in a report on Monday, May 21st. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $52.71.
General Mills Profile
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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