Symons Capital Management Inc. trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,046 shares of the company’s stock after selling 39,026 shares during the period. General Mills accounts for about 4.1% of Symons Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Symons Capital Management Inc.’s holdings in General Mills were worth $14,234,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. American International Group Inc. lifted its stake in General Mills by 1,708.4% in the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after acquiring an additional 8,528,534 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of General Mills by 3,178.6% in the second quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock valued at $144,666,000 after purchasing an additional 2,531,664 shares during the period. Stifel Financial Corp increased its position in General Mills by 28,570.2% during the third quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock worth $86,610,000 after acquiring an additional 1,665,641 shares during the period. American Century Companies Inc. increased its position in 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 acquiring an additional 1,550,074 shares during the period. Finally, Bank of New York Mellon Corp increased its position in General Mills by 13.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after acquiring an additional 1,009,126 shares during the period. 74.34% of the stock is owned by hedge funds and other institutional investors.
General Mills, Inc. (NYSE:GIS) opened at $51.99 on Wednesday. The firm has a market cap of $29,573.21, a P/E ratio of 19.04, a P/E/G ratio of 2.15 and a beta of 0.72. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. General Mills, Inc. has a 52-week low of $49.65 and a 52-week high of $61.34.
General Mills announced that its board has approved a stock repurchase plan on Friday, February 23rd that allows the company to buyback outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
GIS has been the topic of a number of recent research reports. Wells Fargo & Co raised shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Monday, December 18th. Argus reiterated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Jefferies Group upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, February 14th. Finally, Credit Suisse Group set a $62.00 price target on shares of General Mills and gave the stock a “hold” rating in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.64.
About General Mills
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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