Savoir Faire Capital Management L.P. Raises Stock Position in General Mills, Inc. (NYSE:GIS)

Savoir Faire Capital Management L.P. grew its position in General Mills, Inc. (NYSE:GIS) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 55,698 shares of the company’s stock after purchasing an additional 2,745 shares during the period. General Mills accounts for 1.7% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 26th largest position. Savoir Faire Capital Management L.P.’s holdings in General Mills were worth $3,552,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its holdings in General Mills by 1.2% during the 3rd quarter. Barclays PLC now owns 1,634,280 shares of the company’s stock valued at $120,691,000 after acquiring an additional 19,290 shares during the period. Bard Financial Services Inc. lifted its position in shares of General Mills by 0.6% during the third quarter. Bard Financial Services Inc. now owns 108,475 shares of the company’s stock worth $8,011,000 after purchasing an additional 700 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of General Mills in the third quarter valued at approximately $403,000. Wilmington Savings Fund Society FSB grew its holdings in shares of General Mills by 138.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 37,487 shares of the company’s stock valued at $2,768,000 after purchasing an additional 21,790 shares in the last quarter. Finally, Optimist Retirement Group LLC increased its stake in General Mills by 19.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 28,362 shares of the company’s stock worth $2,095,000 after buying an additional 4,528 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The shares were 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 represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $57.90 on Wednesday. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The firm has a market capitalization of $31.92 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.94 and a beta of 0.15. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company’s fifty day moving average price is $59.57 and its 200 day moving average price is $63.22.

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

General Mills Announces Dividend

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 issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is currently 52.75%.

Analysts Set New Price Targets

Several brokerages have commented on GIS. JPMorgan Chase & Co. decreased their price target 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. Deutsche Bank Aktiengesellschaft decreased their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America cut their target price on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.69.

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.