K.J. Harrison & Partners Inc Takes $762,000 Position in General Mills, Inc. (NYSE:GIS)

K.J. Harrison & Partners Inc purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the company’s stock, valued at approximately $762,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after buying an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. State Street Corp lifted its holdings in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Nepsis Inc. grew its stake in shares of General Mills by 3,504.8% in the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after buying an additional 2,104,353 shares during the last quarter. Finally, DDD Partners LLC purchased a new stake in shares of General Mills in the 4th quarter worth approximately $21,776,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 3.8 %

Shares of GIS stock opened at $59.28 on Thursday. The company has a 50 day simple moving average of $60.63 and a two-hundred day simple moving average of $66.38. The stock has a market cap of $32.68 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. 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 (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $1.25 EPS. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Mizuho cut their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. TD Cowen cut their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average price target of $69.06.

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.