Cadence Capital Management LLC lessened its stake in General Mills, Inc. (NYSE:GIS) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,057 shares of the company’s stock after selling 60,214 shares during the period. Cadence Capital Management LLC’s holdings in General Mills were worth $9,430,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. lifted its stake in shares of General Mills by 0.3% in the 2nd quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock valued at $180,000 after acquiring an additional 11 shares during the last quarter. CFO4Life Group LLC lifted its stake in shares of General Mills by 1.3% in the 2nd quarter. CFO4Life Group LLC now owns 3,827 shares of the company’s stock valued at $212,000 after acquiring an additional 48 shares during the last quarter. Argent Trust Co lifted its stake in shares of General Mills by 0.6% in the 2nd quarter. Argent Trust Co now owns 16,141 shares of the company’s stock valued at $894,000 after acquiring an additional 100 shares during the last quarter. Associated Banc Corp lifted its stake in shares of General Mills by 0.3% in the 2nd quarter. Associated Banc Corp now owns 28,880 shares of the company’s stock valued at $1,600,000 after acquiring an additional 100 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its stake in shares of General Mills by 2.8% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 4,521 shares of the company’s stock valued at $250,000 after acquiring an additional 125 shares during the last quarter. 72.84% of the stock is owned by institutional investors.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. equities research analysts forecast that General Mills, Inc. will post 3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.59%. General Mills’s dividend payout ratio (DPR) is 71.79%.
A number of research firms have recently weighed in on GIS. Susquehanna Bancshares set a $56.00 target price on General Mills and gave the company a “hold” rating in a research note on Tuesday, October 17th. Wells Fargo & Co set a $65.00 target price on General Mills and gave the company a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Piper Jaffray Companies raised General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price target for the company in a research report on Wednesday, January 3rd. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.28.
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General Mills Profile
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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