Guggenheim Capital LLC grew its holdings in General Mills, Inc. (NYSE:GIS) by 11.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,371,666 shares of the company’s stock after buying an additional 146,223 shares during the quarter. Guggenheim Capital LLC’s holdings in General Mills were worth $81,325,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Truewealth LLC acquired a new position in shares of General Mills during the fourth quarter worth $119,000. Financial Gravity Companies Inc. acquired a new position in shares of General Mills during the fourth quarter worth $131,000. Cable Hill Partners LLC grew its stake in shares of General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after purchasing an additional 1,647 shares in the last quarter. Grove Bank & Trust grew its stake in shares of General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after purchasing an additional 1,878 shares in the last quarter. Finally, Spectrum Management Group Inc. acquired a new position in shares of General Mills during the third quarter worth $135,000. Institutional investors and hedge funds own 73.52% of the company’s stock.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. General Mills’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 3.17 EPS for the current fiscal year.
General Mills announced that its Board of Directors has approved a share repurchase plan on Friday, February 23rd that allows the company to repurchase shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
A number of equities analysts recently commented on GIS shares. Wells Fargo & Co set a $65.00 target price on shares of General Mills and gave the stock a “buy” rating in a research note on Thursday, December 21st. Jefferies Group upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Monday, February 26th. Citigroup lowered their target price on shares of General Mills from $71.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Edward Jones reiterated a “hold” rating on shares of General Mills in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.64.
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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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