Kornitzer Capital Management Inc. KS lessened its stake in General Mills, Inc. (NYSE:GIS) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 580,500 shares of the company’s stock after selling 11,535 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.10% of General Mills worth $22,605,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. We Are One Seven LLC bought a new position in General Mills during the fourth quarter valued at $30,000. Legacy Financial Advisors Inc. increased its position in General Mills by 80.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock valued at $50,000 after acquiring an additional 576 shares during the last quarter. Cornerstone Advisors Inc. increased its position in General Mills by 25.4% during the third quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock valued at $60,000 after acquiring an additional 281 shares during the last quarter. G&S Capital LLC increased its position in General Mills by 27.8% during the fourth quarter. G&S Capital LLC now owns 1,403 shares of the company’s stock valued at $55,000 after acquiring an additional 305 shares during the last quarter. Finally, Northwest Wealth Management LLC increased its position in General Mills by 23.1% during the fourth quarter. Northwest Wealth Management LLC now owns 1,441 shares of the company’s stock valued at $56,000 after acquiring an additional 270 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
In other news, 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 value of $347,396.74. Following the transaction, the director now directly owns 30,215 shares in the company, valued at $1,337,315.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.
A number of research firms have weighed in on GIS. Wells Fargo & Co set a $46.00 price objective on shares of General Mills and gave the company a “buy” rating in a research report on Thursday, December 20th. Guggenheim began coverage on shares of General Mills in a research report on Tuesday, January 22nd. They set a “buy” rating and a $49.00 price objective on the stock. Zacks Investment Research cut shares of General Mills from a “buy” rating to a “hold” rating in a research report on Monday, December 10th. Morgan Stanley set a $41.00 price objective on shares of General Mills and gave the company a “hold” rating in a research report on Friday, December 21st. Finally, Barclays reiterated a “neutral” rating on shares of General Mills in a research report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and a consensus target price of $47.45.
NYSE GIS opened at $44.61 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $26.62 billion, a PE ratio of 14.34, a P/E/G ratio of 1.96 and a beta of 0.76. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $56.90.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 19th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.51 billion. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, equities research analysts anticipate that General Mills, Inc. will post 3.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.39%. General Mills’s 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.
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