General Mills, Inc. (GIS) Shares Sold by Voloridge Investment Management LLC
Voloridge Investment Management LLC cut its position in General Mills, Inc. (NYSE:GIS) by 65.2% during the fourth quarter, Holdings Channel reports. The fund owned 296,667 shares of the company’s stock after selling 556,683 shares during the period. Voloridge Investment Management LLC’s holdings in General Mills were worth $11,552,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Worldquant Millennium Quantitative Strategies LLC boosted its stake in General Mills by 28.6% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 99,437 shares of the company’s stock worth $3,872,000 after buying an additional 22,129 shares during the last quarter. Cipher Capital LP boosted its stake in General Mills by 207.2% during the fourth quarter. Cipher Capital LP now owns 160,669 shares of the company’s stock worth $6,257,000 after buying an additional 108,362 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in General Mills in the fourth quarter valued at $623,000. Gotham Asset Management LLC raised its position in General Mills by 476.8% in the fourth quarter. Gotham Asset Management LLC now owns 632,908 shares of the company’s stock valued at $24,645,000 after purchasing an additional 523,175 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in General Mills by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 88,131 shares of the company’s stock valued at $3,432,000 after purchasing an additional 280 shares during the period. 68.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GIS stock traded up $1.04 on Thursday, hitting $49.33. The stock had a trading volume of 2,085,069 shares, compared to its average volume of 4,761,955. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $28.19 billion, a PE ratio of 15.86, a P/E/G ratio of 2.12 and a beta of 0.77. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $49.50.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.97%. General Mills’s dividend payout ratio is presently 63.02%.
In related news, CFO Donal L. Mulligan sold 120,722 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.50, for a total value of $5,734,295.00. Following the sale, the chief financial officer now owns 252,326 shares in the company, valued at approximately $11,985,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director R Kerry Clark sold 7,849 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the sale, the director now owns 30,215 shares in the company, valued at approximately $1,337,315.90. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.
A number of research firms have commented on GIS. Morgan Stanley lifted their target price on General Mills from $41.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday. BMO Capital Markets lifted their target price on General Mills from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday. Credit Suisse Group restated a “neutral” rating and issued a $52.00 target price (up previously from $43.00) on shares of General Mills in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Citigroup restated a “top pick” rating and issued a $60.00 target price (up previously from $54.00) on shares of General Mills in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.45.
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About General Mills
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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