Brookstone Capital Management Has $7.05 Million Position in General Mills, Inc. (GIS)
Brookstone Capital Management increased its stake in General Mills, Inc. (NYSE:GIS) by 859.2% in the 4th quarter, HoldingsChannel reports. The fund owned 118,855 shares of the company’s stock after acquiring an additional 106,464 shares during the quarter. Brookstone Capital Management’s holdings in General Mills were worth $7,047,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. Cable Hill Partners LLC increased its holdings in General Mills by 274.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after acquiring an additional 1,647 shares in the last quarter. Grove Bank & Trust increased its holdings in General Mills by 322.7% in the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after acquiring an additional 1,878 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in General Mills by 127.3% in the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after acquiring an additional 1,459 shares in the last quarter. Spectrum Management Group Inc. purchased a new stake in General Mills in the 3rd quarter worth $135,000. Finally, Americafirst Capital Management LLC purchased a new stake in General Mills in the 2nd quarter worth $158,000. 72.59% of the stock is owned by institutional investors.
Shares of General Mills, Inc. (NYSE:GIS) opened at $54.92 on Tuesday. General Mills, Inc. has a 1-year low of $49.65 and a 1-year high of $63.73. The stock has a market cap of $31,250.00, a price-to-earnings ratio of 20.12, a PEG ratio of 2.41 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Tuesday, January 9th. General Mills’s payout ratio is 71.79%.
In other 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 transaction of $517,492.80. Following the completion of the sale, the insider now owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.
GIS has been the subject of several recent analyst reports. Wells Fargo & Co raised shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Monday, December 18th. Argus reissued a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Jefferies Group initiated coverage on shares of General Mills in a report on Friday, October 20th. They issued a “hold” rating and a $56.00 price target for the company. Finally, Royal Bank of Canada set a $58.00 price target on shares of General Mills and gave the stock a “hold” rating in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $58.28.
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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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