Leavell Investment Management Inc. boosted its position in General Mills, Inc. (NYSE:GIS) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,470 shares of the company’s stock after buying an additional 1,200 shares during the quarter. Leavell Investment Management Inc.’s holdings in General Mills were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Advisors LLC purchased a new stake in General Mills in the first quarter worth approximately $31,000. Acima Private Wealth LLC purchased a new stake in General Mills in the fourth quarter worth approximately $29,000. We Are One Seven LLC purchased a new stake in General Mills in the fourth quarter worth approximately $30,000. Sageworth Trust Co purchased a new stake in General Mills in the first quarter worth approximately $49,000. Finally, BDO Wealth Advisors LLC purchased a new stake in General Mills in the fourth quarter worth approximately $37,000. 68.88% of the stock is owned by institutional investors and hedge funds.
NYSE:GIS opened at $51.47 on Wednesday. The company has a market cap of $30.97 billion, a PE ratio of 16.55, a P/E/G ratio of 2.20 and a beta of 0.78. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $52.17. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 3.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.81%. General Mills’s dividend payout ratio is presently 63.02%.
GIS has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective on shares of General Mills in a research note on Tuesday, December 18th. Piper Jaffray Companies reissued an “average” rating and set a $47.00 price objective on shares of General Mills in a research note on Thursday, December 20th. Credit Suisse Group dropped their price objective on General Mills from $46.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, December 20th. Barclays reissued a “neutral” rating on shares of General Mills in a research note on Thursday, December 20th. Finally, Morgan Stanley set a $41.00 price objective on General Mills and gave the company a “hold” rating in a research note on Friday, December 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.91.
In other General Mills news, insider John R. Church sold 4,719 shares of the 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 in the company, valued at $1,732,207.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Kerry Clark sold 7,849 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the transaction, the director now owns 30,215 shares of the company’s stock, valued at approximately $1,337,315.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 452,071 shares of company stock valued at $22,112,181. 0.59% of the stock is owned by corporate insiders.
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General Mills 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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