Mengis Capital Management Inc. trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 8.2% in the 4th quarter, HoldingsChannel reports. The fund owned 13,218 shares of the company’s stock after selling 1,182 shares during the period. Mengis Capital Management Inc.’s holdings in General Mills were worth $783,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Martin Capital Partners LLC purchased a new position in General Mills during the fourth quarter valued at $1,601,000. Mackenzie Financial Corp grew its stake in General Mills by 89.2% during the fourth quarter. Mackenzie Financial Corp now owns 967,778 shares of the company’s stock valued at $57,380,000 after acquiring an additional 456,260 shares in the last quarter. Buckingham Asset Management LLC grew its stake in General Mills by 23.1% during the fourth quarter. Buckingham Asset Management LLC now owns 5,794 shares of the company’s stock valued at $344,000 after acquiring an additional 1,086 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new position in General Mills during the fourth quarter valued at $202,000. Finally, Obermeyer Wood Investment Counsel Lllp purchased a new position in General Mills during the fourth quarter valued at $222,000. 72.89% of the stock is owned by institutional investors.
GIS has been the subject of several research analyst reports. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Societe Generale upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Susquehanna Bancshares set a $57.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, December 13th. Wells Fargo & Co upgraded shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a research report on Monday, December 18th. Finally, Edward Jones reiterated a “hold” rating on shares of General Mills in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and an average target price of $57.64.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. research analysts expect that General Mills, Inc. will post 3.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.49 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.86%. General Mills’s dividend payout ratio (DPR) is presently 71.79%.
General Mills announced that its board has initiated a stock buyback program on Friday, February 23rd that permits the company to repurchase shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the sale, 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 is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.
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General Mills Company 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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