Leavell Investment Management Inc. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 32,470 shares of the company’s stock after buying an additional 1,200 shares during the period. Leavell Investment Management Inc.’s holdings in General Mills were worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of GIS. Actinver Wealth Management Inc. bought a new stake in General Mills in the 4th quarter worth approximately $991,000. Two Sigma Advisers LP increased its stake in General Mills by 24.1% in the 4th quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock worth $34,957,000 after acquiring an additional 174,157 shares during the last quarter. Norges Bank bought a new stake in General Mills in the 4th quarter worth approximately $208,406,000. Stifel Financial Corp increased its stake in General Mills by 5.5% in the 4th quarter. Stifel Financial Corp now owns 1,864,294 shares of the company’s stock worth $72,721,000 after acquiring an additional 96,997 shares during the last quarter. Finally, Financial Advocates Investment Management increased its stake in General Mills by 14.4% in the 4th quarter. Financial Advocates Investment Management now owns 8,157 shares of the company’s stock worth $412,000 after acquiring an additional 1,026 shares during the last quarter. 68.88% of the stock is currently owned by hedge funds and other institutional investors.
GIS has been the topic of a number of research reports. ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Jefferies Financial Group set a $55.00 price objective on General Mills and gave the stock a “buy gis” rating in a research note on Monday, December 24th. Deutsche Bank raised General Mills from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $54.00 in a research note on Thursday, March 14th. Standpoint Research downgraded General Mills from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. Finally, TheStreet raised General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average target price of $49.91.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, research analysts forecast that General Mills, Inc. will post 3.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is 63.02%.
In other news, Director R Kerry Clark sold 7,849 shares of General Mills stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the transaction, the director now owns 30,215 shares in the company, valued at approximately $1,337,315.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John R. Church sold 4,719 shares of General Mills stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,071 shares of company stock valued at $22,112,181. Company insiders own 0.59% of the company’s stock.
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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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