Fmr LLC Has $69.28 Million Holdings in General Mills, Inc. (GIS)

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Fmr LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,779,098 shares of the company’s stock after selling 157,419 shares during the quarter. Fmr LLC’s holdings in General Mills were worth $69,278,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Acima Private Wealth LLC acquired a new position in shares of General Mills in the fourth quarter worth about $29,000. We Are One Seven LLC acquired a new position in shares of General Mills in the fourth quarter worth about $30,000. BDO Wealth Advisors LLC acquired a new position in shares of General Mills in the fourth quarter worth about $37,000. Legacy Financial Advisors Inc. raised its position in shares of General Mills by 80.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock worth $50,000 after purchasing an additional 576 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its position in shares of General Mills by 25.4% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock worth $60,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 68.89% of the company’s stock.

In related news, insider John R. Church sold 4,719 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the sale, the insider now owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R Kerry Clark sold 7,849 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $44.26, for a total transaction of $347,396.74. Following the sale, the director now directly owns 30,215 shares of the company’s stock, valued at approximately $1,337,315.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 452,071 shares of company stock valued at $22,112,181. 0.59% of the stock is owned by corporate insiders.

Several research analysts recently weighed in on GIS shares. Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of General Mills in a research report on Tuesday, December 18th. Piper Jaffray Companies restated an “average” rating and set a $47.00 price target on shares of General Mills in a research report on Thursday, December 20th. Credit Suisse Group reduced their price target on shares of General Mills from $46.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, December 20th. Barclays restated a “neutral” rating on shares of General Mills in a research report on Thursday, December 20th. Finally, Morgan Stanley set a $41.00 price target on shares of General Mills and gave the stock a “hold” rating in a research report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.91.

Shares of NYSE GIS opened at $51.58 on Monday. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $51.96. The stock has a market cap of $30.87 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.35.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company earned $0.79 EPS. General Mills’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that General Mills, Inc. will post 3.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.49 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 annualized dividend and a yield of 3.80%. General Mills’s dividend payout ratio is presently 63.02%.

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General Mills Profile

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.

Read More: Hedge Funds – How They Work For Investors

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).

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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