Providence Capital Advisors LLC Acquires 297 Shares of General Mills, Inc. (NYSE:GIS)

Providence Capital Advisors LLC lifted its stake in General Mills, Inc. (NYSE:GIS) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,938 shares of the company’s stock after purchasing an additional 297 shares during the quarter. Providence Capital Advisors LLC’s holdings in General Mills were worth $2,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC bought a new stake in General Mills during the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills in the fourth quarter worth about $31,000. VSM Wealth Advisory LLC purchased a new position in General Mills in the fourth quarter worth about $32,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of General Mills in the fourth quarter worth approximately $34,000. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 1.0 %

GIS stock opened at $59.65 on Friday. The business’s 50-day moving average price is $59.98 and its 200-day moving average price is $64.86. The stock has a market cap of $32.88 billion, a P/E ratio of 12.97, a PEG ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills’s payout ratio is presently 52.75%.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on GIS. Bank of America decreased their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Mizuho lowered their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. TD Cowen reduced their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group lifted their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.69.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.