Savoir Faire Capital Management L.P. Boosts Stake in General Mills, Inc. (NYSE:GIS)

Savoir Faire Capital Management L.P. increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,698 shares of the company’s stock after acquiring an additional 2,745 shares during the quarter. General Mills comprises 1.7% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 25th biggest position. Savoir Faire Capital Management L.P.’s holdings in General Mills were worth $3,552,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GIS. Gladstone Institutional Advisory LLC grew its position in shares of General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after purchasing an additional 268 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in General Mills by 11.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock valued at $53,211,000 after buying an additional 85,612 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 buying an additional 2,926,232 shares in the last quarter. J2 Capital Management Inc acquired a new stake in shares of General Mills in the 4th quarter worth $547,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of General Mills by 15.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company’s stock worth $2,749,000 after acquiring an additional 5,853 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $60.95 on Friday. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth 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 52 week low of $55.15 and a 52 week high of $75.90. The company has a fifty day simple moving average of $59.98 and a two-hundred day simple moving average of $64.36.

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, topping the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the business earned $1.17 EPS. General Mills’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.94%. General Mills’s dividend payout ratio (DPR) is currently 52.75%.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the subject of several recent analyst reports. Piper Sandler cut their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Citigroup cut their price target on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Mizuho lowered their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Stifel Nicolaus cut their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.