Rodgers Brothers Inc. Acquires 2,108 Shares of General Mills, Inc. (GIS)
Rodgers Brothers Inc. increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 86,931 shares of the company’s stock after purchasing an additional 2,108 shares during the quarter. General Mills accounts for 1.7% of Rodgers Brothers Inc.’s portfolio, making the stock its 14th biggest position. Rodgers Brothers Inc.’s holdings in General Mills were worth $5,154,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Avestar Capital LLC bought a new stake in General Mills in the fourth quarter valued at approximately $100,000. Cable Hill Partners LLC increased its stake in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares in the last quarter. Truewealth LLC bought a new stake in General Mills in the fourth quarter valued at approximately $119,000. Grove Bank & Trust increased its stake in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in General Mills in the fourth quarter valued at approximately $131,000. 74.34% of the stock is owned by institutional investors and hedge funds.
In related news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
General Mills, Inc. (NYSE GIS) opened at $52.00 on Wednesday. General Mills, Inc. has a 1-year low of $49.65 and a 1-year high of $61.34. The company has a market cap of $29,573.21, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.15 and a beta of 0.72. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. analysts forecast that General Mills, Inc. will post 3.17 EPS for the current fiscal year.
General Mills declared that its Board of Directors has approved a stock buyback program on Friday, February 23rd that allows the company to buyback shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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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