West Bancorporation Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,500 shares of the company’s stock, valued at approximately $80,000.
Several other hedge funds have also recently bought and sold shares of GIS. BlackRock Inc. raised its stake in shares of General Mills by 15.8% during the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after purchasing an additional 6,544,997 shares during the last quarter. State Street Corp raised its stake in shares of General Mills by 2.7% during the fourth quarter. State Street Corp now owns 36,332,406 shares of the company’s stock worth $1,945,964,000 after purchasing an additional 950,411 shares during the last quarter. Jensen Investment Management Inc. raised its stake in shares of General Mills by 18.5% during the fourth quarter. Jensen Investment Management Inc. now owns 5,143,000 shares of the company’s stock worth $275,459,000 after purchasing an additional 802,755 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of General Mills by 532.2% during the fourth quarter. State of Michigan Retirement System now owns 917,538 shares of the company’s stock worth $49,143,000 after purchasing an additional 772,400 shares during the last quarter. Finally, Man Group plc raised its stake in shares of General Mills by 289.0% during the third quarter. Man Group plc now owns 451,270 shares of the company’s stock worth $24,874,000 after purchasing an additional 335,272 shares during the last quarter. 67.53% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on GIS. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating and set a $57.00 price target for the company in a research note on Monday. UBS Group upped their price target on General Mills from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Deutsche Bank began coverage on General Mills in a research note on Wednesday, December 11th. They set a “buy” rating and a $61.00 price target for the company. Royal Bank of Canada restated a “hold” rating and set a $57.00 price target on shares of General Mills in a research note on Wednesday, December 18th. Finally, ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.50.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. General Mills had a return on equity of 27.33% and a net margin of 12.62%. General Mills’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, analysts predict that General Mills, Inc. will post 3.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.00%. The ex-dividend date is Wednesday, April 8th. General Mills’s payout ratio is 60.87%.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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