State of Alaska Department of Revenue raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,409 shares of the company’s stock after acquiring an additional 3,229 shares during the quarter. State of Alaska Department of Revenue’s holdings in General Mills were worth $5,119,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GIS. Vanguard Group Inc. raised its holdings in shares of General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after purchasing an additional 533,919 shares during the period. American Century Companies Inc. raised its holdings in shares of General Mills by 15.9% during the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after purchasing an additional 1,550,074 shares during the period. American International Group Inc. raised its holdings in shares of General Mills by 1,708.4% during the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after purchasing an additional 8,528,534 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of General Mills by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock worth $387,691,000 after purchasing an additional 890,262 shares during the period. Finally, Federated Investors Inc. PA raised its holdings in shares of General Mills by 94.6% during the second quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock worth $250,196,000 after purchasing an additional 2,195,397 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.
A number of research firms recently weighed in on GIS. Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 price objective on shares of General Mills in a report on Monday, September 25th. Susquehanna Bancshares set a $56.00 price objective on shares of General Mills and gave the stock a “hold” rating in a report on Tuesday, October 17th. Wells Fargo & Co set a $65.00 price objective on shares of General Mills and gave the stock a “buy” rating in a report on Thursday, December 21st. Goldman Sachs Group reaffirmed a “sell” rating on shares of General Mills in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $58.28.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. General Mills’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. equities research analysts forecast that General Mills, Inc. will post 3.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.96 annualized dividend and a yield of 3.32%. General Mills’s payout ratio is 71.79%.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.
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General Mills Company Profile
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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