Hillsdale Investment Management Inc. Takes $607,000 Position in General Mills, Inc. (NYSE:GIS)

Hillsdale Investment Management Inc. purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,520 shares of the company's stock, valued at approximately $607,000.

Other hedge funds have also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its holdings in General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after acquiring an additional 268 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after buying an additional 2,926,232 shares during the last quarter. J2 Capital Management Inc purchased a new stake in shares of General Mills during the fourth quarter valued at $547,000. Daiwa Securities Group Inc. increased its position in shares of General Mills by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company's stock valued at $4,652,000 after acquiring an additional 4,839 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in General Mills by 15.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company's stock worth $2,749,000 after acquiring an additional 5,853 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 1.0 %

NYSE:GIS traded up $0.58 during midday trading on Thursday, hitting $59.65. 1,151,934 shares of the company were exchanged, compared to its average volume of 4,105,187. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The company has a market capitalization of $32.88 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a fifty day simple moving average of $59.97 and a 200 day simple moving average of $64.89.

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General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.02%. General Mills's dividend payout ratio (DPR) is 52.75%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GIS. Bank of America cut their price objective on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. TD Cowen decreased their price target on General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Citigroup lowered their target price on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.69.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.