Symons Capital Management Inc. decreased its holdings in General Mills, Inc. (NYSE:GIS) by 50.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,896 shares of the company’s stock after selling 59,094 shares during the period. Symons Capital Management Inc.’s holdings in General Mills were worth $2,996,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in GIS. Actinver Wealth Management Inc. bought a new position in shares of General Mills during the 4th quarter worth $991,000. Two Sigma Advisers LP grew its position in shares of General Mills by 24.1% during the 4th quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock worth $34,957,000 after buying an additional 174,157 shares in the last quarter. Norges Bank bought a new position in shares of General Mills during the 4th quarter worth $208,406,000. DNB Asset Management AS grew its position in shares of General Mills by 27.4% during the 1st quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock worth $5,719,000 after buying an additional 23,762 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of General Mills by 5.5% during the 4th quarter. Stifel Financial Corp now owns 1,864,294 shares of the company’s stock worth $72,721,000 after buying an additional 96,997 shares in the last quarter. Institutional investors and hedge funds own 69.87% of the company’s stock.
In other General Mills news, insider Shawn P. Ogrady sold 118,152 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total value of $5,730,372.00. Following the completion of the sale, the insider now directly owns 187,891 shares in the company, valued at $9,112,713.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R Kerry Clark sold 14,836 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $51.57, for a total value of $765,092.52. Following the completion of the sale, the director now owns 62,211 shares of the company’s stock, valued at $3,208,221.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is currently owned by company insiders.
GIS has been the topic of a number of recent research reports. Deutsche Bank raised General Mills from a “hold” rating to a “buy” rating and increased their price target for the stock from $43.00 to $54.00 in a research report on Thursday, March 14th. ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. TheStreet raised General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Wells Fargo & Co raised their price objective on General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of General Mills in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $49.77.
General Mills stock traded down $2.84 during midday trading on Wednesday, reaching $48.25. The company’s stock had a trading volume of 10,484,491 shares, compared to its average volume of 3,353,810. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $53.66. The stock has a market cap of $31.62 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77.
General Mills (NYSE:GIS) last released its quarterly 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. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business posted $0.79 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
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About General Mills
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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