Personal CFO Solutions LLC Acquires New Position in General Mills, Inc. (NYSE:GIS)

Personal CFO Solutions LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,187 shares of the company’s stock, valued at approximately $650,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. State Street Corp raised its stake in shares of General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB increased its holdings in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. raised its position in General Mills by 105.2% in the 3rd 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. Amundi raised its position in General Mills by 9.7% in the 4th quarter. Amundi now owns 4,082,376 shares of the company’s stock valued at $248,902,000 after purchasing an additional 360,368 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of General Mills by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock valued at $255,385,000 after buying an additional 207,346 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GIS. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Citigroup lowered their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company cut their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.06.

General Mills Price Performance

GIS stock opened at $64.53 on Monday. The business has a 50 day simple moving average of $60.33 and a 200-day simple moving average of $65.97. The company has a market capitalization of $35.57 billion, a P/E ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a twelve month low of $55.15 and a twelve 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 issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

General Mills 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.