OLD Republic International Corp boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 53.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 794,700 shares of the company’s stock after buying an additional 278,000 shares during the quarter. General Mills makes up approximately 1.5% of OLD Republic International Corp’s portfolio, making the stock its 22nd biggest position. OLD Republic International Corp owned 0.14% of General Mills worth $47,118,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. raised its position in shares of General Mills by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after acquiring an additional 1,550,074 shares in the last quarter. American International Group Inc. raised its position in shares of General Mills by 10.3% in the 4th quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock worth $590,566,000 after acquiring an additional 932,891 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of General Mills by 13.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after acquiring an additional 1,009,126 shares in the last quarter. Geode Capital Management LLC raised its position in shares of General Mills by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock worth $370,514,000 after acquiring an additional 146,687 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of General Mills by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 3,526,158 shares of the company’s stock worth $182,549,000 after acquiring an additional 130,606 shares in the last quarter. 74.20% of the stock is currently owned by hedge funds and other institutional investors.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the sale, the insider now directly owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Shares of General Mills, Inc. (NYSE:GIS) opened at $44.90 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.69. The company has a market capitalization of $25,897.18, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. General Mills, Inc. has a twelve month low of $44.44 and a twelve month high of $60.69.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. sell-side analysts predict that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
General Mills declared that its Board of Directors has authorized a share repurchase program on Friday, February 23rd that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Monday, April 9th. General Mills’s dividend payout ratio is currently 52.41%.
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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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