Captrust Financial Advisors purchased a new position in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,515 shares of the company’s stock, valued at approximately $3,351,000.
Other large investors have also added to or reduced their stakes in the company. Avestar Capital LLC bought a new position in General Mills during the fourth quarter valued at about $100,000. Truewealth LLC bought a new position in General Mills during the fourth quarter valued at about $119,000. Financial Gravity Companies Inc. bought a new position in General Mills during the fourth quarter valued at about $131,000. Cable Hill Partners LLC boosted its stake in General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after buying an additional 1,647 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after buying an additional 1,878 shares in the last quarter. 74.34% of the stock is owned by institutional investors.
Several research analysts recently weighed in on GIS shares. Susquehanna Bancshares set a $57.00 target price on General Mills and gave the company a “hold” rating in a research note on Wednesday, December 13th. Edward Jones reaffirmed a “hold” rating on shares of General Mills in a research note on Wednesday, December 20th. Credit Suisse Group reaffirmed a “neutral” rating and set a $58.00 target price (down previously from $62.00) on shares of General Mills in a research note on Wednesday, February 21st. BMO Capital Markets reaffirmed a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Finally, Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $57.64.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business posted $0.85 earnings per share. General Mills’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts anticipate that General Mills, Inc. will post 3.17 EPS for the current year.
General Mills announced that its Board of Directors has initiated a stock repurchase program on Friday, February 23rd that allows the company to repurchase shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In related news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction dated Tuesday, January 9th. The stock was 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 directly owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Captrust Financial Advisors Invests $3.35 Million in General Mills, Inc. (GIS) Stock” was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3258893/captrust-financial-advisors-invests-3-35-million-in-general-mills-inc-gis-stock.html.
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.
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.