LS Investment Advisors LLC Sells 16,592 Shares of General Mills, Inc. (GIS)
LS Investment Advisors LLC trimmed its stake in General Mills, Inc. (NYSE:GIS) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,207 shares of the company’s stock after selling 16,592 shares during the period. LS Investment Advisors LLC’s holdings in General Mills were worth $1,198,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cable Hill Partners LLC boosted its position 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 acquiring an additional 1,647 shares during the last quarter. Grove Bank & Trust boosted its position 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 acquiring an additional 1,878 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after acquiring an additional 1,459 shares during the last quarter. Spectrum Management Group Inc. bought a new stake in General Mills during the third quarter valued at $135,000. Finally, Americafirst Capital Management LLC bought a new stake in General Mills during the second quarter valued at $158,000. Institutional investors and hedge funds own 72.59% of the company’s stock.
GIS has been the topic of a number of research analyst reports. Wells Fargo & Co set a $65.00 price target on shares of General Mills and gave the company a “buy” rating in a research report on Thursday, December 21st. Susquehanna Bancshares set a $56.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Tuesday, October 17th. Royal Bank of Canada set a $58.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Monday, October 23rd. Jefferies Group initiated coverage on shares of General Mills in a research report on Friday, October 20th. They set a “hold” rating and a $56.00 price target on the stock. Finally, Societe Generale raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $58.28.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.82. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. research analysts forecast that General Mills, Inc. will post 3.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.58%. General Mills’s dividend payout ratio (DPR) is presently 71.79%.
In other news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.
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.
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