Tiaa Fsb lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,593 shares of the company’s stock after purchasing an additional 3,663 shares during the quarter. Tiaa Fsb’s holdings in General Mills were worth $3,291,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in GIS. Legacy Advisors LLC purchased a new position in shares of General Mills in the 1st quarter worth about $31,000. Acima Private Wealth LLC purchased a new position in shares of General Mills in the 4th quarter worth about $29,000. We Are One Seven LLC purchased a new position in shares of General Mills in the 4th quarter worth about $30,000. Sageworth Trust Co purchased a new position in shares of General Mills in the 1st quarter worth about $49,000. Finally, BDO Wealth Advisors LLC purchased a new position in shares of General Mills in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 68.88% of the company’s stock.
In other news, CFO Donal L. Mulligan sold 120,722 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $47.50, for a total value of $5,734,295.00. Following the completion of the transaction, the chief financial officer now owns 252,326 shares of the company’s stock, valued at approximately $11,985,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donal L. Mulligan sold 126,337 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $50.00, for a total value of $6,316,850.00. Following the completion of the transaction, the chief financial officer now directly owns 378,663 shares of the company’s stock, valued at approximately $18,933,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,071 shares of company stock valued at $22,112,181. Company insiders own 0.59% of the company’s stock.
A number of equities analysts have recently issued reports on GIS shares. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $54.00 in a report on Thursday, March 14th. Jefferies Financial Group set a $55.00 price objective on General Mills and gave the stock a “buy gis” rating in a report on Monday, December 24th. Wells Fargo & Co upped their price objective on General Mills from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. Standpoint Research started coverage on General Mills in a report on Wednesday, December 26th. They issued a “buy” rating and a $37.59 price objective for the company. Finally, Morgan Stanley set a $41.00 price objective on General Mills and gave the stock a “hold” rating in a report on Sunday, December 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $49.91.
Shares of GIS stock opened at $51.47 on Wednesday. The stock has a market cap of $30.82 billion, a P/E ratio of 16.55, a P/E/G ratio of 2.20 and a beta of 0.78. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $52.17. 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 released its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the business posted $0.79 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.81%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is currently 63.02%.
About General Mills
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.
Further Reading: What is a Tariff?
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.