ARS Investment Partners LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.5% during the fourth quarter, Holdings Channel reports. The firm owned 42,199 shares of the company’s stock after selling 3,424 shares during the period. ARS Investment Partners LLC’s holdings in General Mills were worth $2,607,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its position in General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock valued at $110,000 after buying an additional 864 shares during the period. Lenox Wealth Advisors Inc. boosted its position in General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares during the period. Advisory Services Network LLC boosted its position in General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock valued at $127,000 after buying an additional 48 shares during the period. Jacobi Capital Management LLC boosted its position in General Mills by 400.0% in the third quarter. Jacobi Capital Management LLC now owns 2,500 shares of the company’s stock valued at $158,000 after buying an additional 2,000 shares during the period. Finally, Washington Trust Bank boosted its position in General Mills by 3.5% in the third quarter. Washington Trust Bank now owns 2,550 shares of the company’s stock valued at $163,000 after buying an additional 87 shares during the period. Institutional investors own 69.77% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) opened at 60.66 on Monday. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 22.65 and a beta of 0.56. The firm’s 50-day moving average is $61.33 and its 200 day moving average is $62.51. General Mills, Inc. has a 52-week low of $58.70 and a 52-week high of $72.95.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.92 annualized dividend and a yield of 3.17%. General Mills’s payout ratio is 71.64%.
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Several research analysts have recently weighed in on GIS shares. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Tuesday, November 22nd. Barclays PLC reduced their price target on shares of General Mills from $66.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday, December 21st. Wells Fargo & Co reiterated a “hold” rating on shares of General Mills in a report on Tuesday, December 20th. Royal Bank of Canada reiterated a “hold” rating on shares of General Mills in a report on Sunday, March 12th. Finally, Deutsche Bank AG started coverage on shares of General Mills in a report on Wednesday, February 15th. They issued a “hold” rating and a $61.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.35.
In other General Mills news, Director Robert L. Ryan sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $60.83, for a total transaction of $1,216,600.00. Following the completion of the transaction, the director now owns 54,676 shares in the company, valued at approximately $3,325,941.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.
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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