City Holding Co. decreased its stake in General Mills, Inc. (NYSE:GIS) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,873 shares of the company’s stock after selling 1,535 shares during the period. City Holding Co.’s holdings in General Mills were worth $2,097,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Nachman Norwood & Parrott Inc acquired a new position in General Mills in the 4th quarter valued at approximately $243,000. Joel Isaacson & Co. LLC increased its position in shares of General Mills by 8.1% during the fourth quarter. Joel Isaacson & Co. LLC now owns 5,871 shares of the company’s stock worth $245,000 after buying an additional 439 shares during the period. Capital Investment Advisors LLC increased its position in shares of General Mills by 8.3% during the fourth quarter. Capital Investment Advisors LLC now owns 81,034 shares of the company’s stock worth $3,155,000 after buying an additional 6,192 shares during the period. Advisors Capital Management LLC increased its position in shares of General Mills by 131.4% during the fourth quarter. Advisors Capital Management LLC now owns 245,651 shares of the company’s stock worth $9,566,000 after buying an additional 139,473 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of General Mills by 13.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 253,928 shares of the company’s stock worth $9,888,000 after buying an additional 30,670 shares during the period. 68.56% of the stock is owned by institutional investors and hedge funds.
General Mills stock opened at $43.47 on Friday. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $60.69. The firm has a market capitalization of $25.64 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.36 and a current ratio of 0.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Wednesday, January 9th. General Mills’s dividend payout ratio (DPR) is 63.02%.
Several research firms have recently weighed in on GIS. ValuEngine upgraded shares of General Mills from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Morgan Stanley set a $41.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research report on Friday, December 21st. Wells Fargo & Co set a $46.00 price objective on shares of General Mills and gave the stock a “buy” rating in a research report on Thursday, December 20th. Bank of America restated a “neutral” rating and issued a $45.00 price target (down from $49.00) on shares of General Mills in a report on Friday, December 7th. Finally, Barclays restated a “neutral” rating on shares of General Mills in a report on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.37.
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.
Featured Story: Reverse Stock Split
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.