Fisher Asset Management LLC Has $410,000 Stake in General Mills, Inc. (GIS)

Fisher Asset Management LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,948 shares of the company’s stock after selling 897 shares during the period. Fisher Asset Management LLC’s holdings in General Mills were worth $410,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. increased its stake in General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock valued at $107,000 after buying an additional 14 shares during the period. Thomaspartners Inc. increased its stake in General Mills by 0.7% in the third quarter. Thomaspartners Inc. now owns 5,004 shares of the company’s stock valued at $320,000 after buying an additional 34 shares during the period. Alpha Windward LLC increased its stake in General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock valued at $241,000 after buying an additional 34 shares during the period. Piershale Financial Group Inc. increased its stake in General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,425 shares of the company’s stock valued at $261,000 after buying an additional 34 shares during the period. Finally, Cadence Bank NA increased its stake in General Mills by 0.6% in the fourth quarter. Cadence Bank NA now owns 6,347 shares of the company’s stock valued at $392,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 69.77% of the company’s stock.

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

General Mills (NYSE:GIS) last announced its quarterly earnings results on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Monday, April 10th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, April 6th. General Mills’s payout ratio is 71.64%.

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A number of research firms have recently weighed in on GIS. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price for the company in a research report on Monday, May 1st. Credit Suisse Group AG reiterated a “neutral” rating and set a $56.00 target price (down from $65.00) on shares of General Mills in a research report on Friday. BMO Capital Markets reiterated a “hold” rating and set a $67.00 target price on shares of General Mills in a research report on Wednesday, March 22nd. Stifel Nicolaus downgraded General Mills from a “buy” rating to a “hold” rating and cut their target price for the company from $67.00 to $60.00 in a research report on Wednesday, March 22nd. Finally, Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Monday, March 20th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.09.

In other General Mills news, insider Jonathon Nudi purchased 1,800 shares of the stock in a transaction that occurred on Wednesday, April 12th. The stock was purchased at an average price of $57.45 per share, with a total value of $103,410.00. Following the acquisition, the insider now owns 34,077 shares in the company, valued at $1,957,723.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

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.

12 Month Chart for NYSE:GIS

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