Rodgers Brothers Inc. grew its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 38.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,146 shares of the company's stock after purchasing an additional 47,755 shares during the period. General Mills makes up 1.4% of Rodgers Brothers Inc.'s portfolio, making the stock its 13th biggest position. Rodgers Brothers Inc.'s holdings in General Mills were worth $11,042,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of GIS. RFG Advisory LLC increased its stake in shares of General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company's stock worth $425,000 after acquiring an additional 172 shares during the last quarter. TCW Group Inc. increased its holdings in General Mills by 0.8% in the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company's stock worth $1,471,000 after buying an additional 194 shares during the last quarter. Quadrant Private Wealth Management LLC lifted its stake in General Mills by 3.7% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company's stock valued at $356,000 after acquiring an additional 197 shares during the last quarter. Howard Capital Management Inc. grew its position in General Mills by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company's stock worth $250,000 after acquiring an additional 198 shares in the last quarter. Finally, LRI Investments LLC increased its stake in shares of General Mills by 5.9% during the 3rd quarter. LRI Investments LLC now owns 3,593 shares of the company's stock worth $265,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on GIS shares. Jefferies Financial Group increased their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Citigroup cut their price objective on General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Mizuho lowered their price target on General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company reduced their price objective on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley began coverage on shares of General Mills in a research note on Monday, March 24th. They issued an "underweight" rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills has a consensus rating of "Hold" and an average price target of $65.69.
Read Our Latest Stock Report on General Mills
General Mills Price Performance
GIS stock traded down $0.40 during trading on Friday, hitting $60.57. The company had a trading volume of 3,617,231 shares, compared to its average volume of 5,853,607. The company has a fifty day moving average price of $59.98 and a two-hundred day moving average price of $64.36. 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 cap of $33.39 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.94 and a beta of 0.06. 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 (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. Equities research analysts expect 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 issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.96%. General Mills's dividend payout ratio is 52.75%.
Insider Buying and Selling at General Mills
In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company's stock.
About General Mills
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Free Report)
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.
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