First Trust Advisors LP cut its stake in General Mills, Inc. (NYSE:GIS) by 15.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,496,512 shares of the company’s stock after selling 280,577 shares during the quarter. First Trust Advisors LP’s holdings in General Mills were worth $58,274,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. Capital World Investors boosted its stake in shares of General Mills by 6.8% during the 3rd quarter. Capital World Investors now owns 7,874,419 shares of the company’s stock worth $337,970,000 after buying an additional 499,519 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of General Mills by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock worth $338,359,000 after buying an additional 46,939 shares during the last quarter. Morgan Stanley boosted its stake in shares of General Mills by 6.6% during the 3rd quarter. Morgan Stanley now owns 5,688,684 shares of the company’s stock worth $244,156,000 after buying an additional 354,443 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of General Mills by 6.8% during the 3rd quarter. Federated Investors Inc. PA now owns 5,556,622 shares of the company’s stock worth $238,491,000 after buying an additional 353,392 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of General Mills by 23.8% during the 3rd quarter. Macquarie Group Ltd. now owns 5,405,699 shares of the company’s stock worth $232,013,000 after buying an additional 1,037,852 shares during the last quarter. 67.26% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on GIS shares. Jefferies Financial Group set a $55.00 price objective on shares of General Mills and gave the stock a “buy gis” rating in a research note on Monday, December 24th. UBS Group restated a “buy” rating and set a $40.00 price objective on shares of General Mills in a research note on Friday, December 14th. Standpoint Research started coverage on shares of General Mills in a research note on Wednesday, December 26th. They set a “buy” rating and a $37.59 price objective for the company. Morgan Stanley set a $41.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research note on Sunday, December 30th. Finally, Guggenheim started coverage on shares of General Mills in a research note on Tuesday, January 22nd. They set a “buy” rating and a $49.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. General Mills has an average rating of “Hold” and an average price target of $47.45.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 19th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the business posted $0.82 EPS. General Mills’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 3.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.96 annualized dividend and a yield of 4.17%. General Mills’s dividend payout ratio (DPR) is currently 63.02%.
In related news, Director R Kerry Clark sold 7,849 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the sale, the director now directly owns 30,215 shares in the company, valued at approximately $1,337,315.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.
WARNING: “General Mills, Inc. (GIS) Shares Sold by First Trust Advisors LP” was published by Community Financial News and is the property of of Community Financial News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.com-unik.info/2019/02/22/general-mills-inc-gis-shares-sold-by-first-trust-advisors-lp.html.
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.
Recommended Story: How do taxes affect a CDs total return?
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.