Joseph Group Capital Management Takes Position in General Mills, Inc. (NYSE:GIS)

Joseph Group Capital Management bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 650 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. RWA Wealth Partners LLC lifted its position in shares of General Mills by 15.0% during the 4th quarter. RWA Wealth Partners LLC now owns 34,478 shares of the company’s stock valued at $2,199,000 after acquiring an additional 4,499 shares during the last quarter. Allianz SE acquired a new position in General Mills in the 4th quarter worth approximately $743,000. Cornercap Investment Counsel Inc. boosted its position in shares of General Mills by 18.5% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 25,159 shares of the company’s stock worth $1,604,000 after buying an additional 3,931 shares during the period. Biondo Investment Advisors LLC lifted its stake in General Mills by 2.5% in the 4th quarter. Biondo Investment Advisors LLC now owns 127,452 shares of the company’s stock worth $8,128,000 after acquiring an additional 3,161 shares in the last quarter. Finally, Allstate Corp acquired a new stake in General Mills during the 4th quarter worth about $1,071,000. 75.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

General Mills Stock Performance

NYSE:GIS opened at $59.09 on Friday. The firm has a market capitalization of $32.57 billion, a PE ratio of 12.85, a PEG ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The firm’s fifty day simple moving average is $59.97 and its 200 day simple moving average is $64.67.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.06%. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Barclays reduced their price objective on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group upped their target price on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Bank of America lowered their price target on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Citigroup cut their price objective on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and an average target price of $65.69.

About General Mills

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.