SVB Wealth LLC Purchases New Position in General Mills, Inc. (NYSE:GIS)

SVB Wealth LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,883 shares of the company’s stock, valued at approximately $1,587,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GIS. Lowe Brockenbrough & Co. Inc. increased its stake in shares of General Mills by 3.3% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 6,176 shares of the company’s stock valued at $456,000 after purchasing an additional 196 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of General Mills by 5.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,932 shares of the company’s stock valued at $512,000 after purchasing an additional 363 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of General Mills by 37.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,541 shares of the company’s stock valued at $380,000 after purchasing an additional 1,513 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in shares of General Mills by 18.0% in the 3rd quarter. Clear Creek Financial Management LLC now owns 6,172 shares of the company’s stock valued at $456,000 after purchasing an additional 942 shares in the last quarter. Finally, Optas LLC purchased a new position in shares of General Mills in the 3rd quarter valued at about $241,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GIS shares. Piper Sandler cut their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Bank of America cut their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. TD Cowen cut their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company cut 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, Stifel Nicolaus cut their price objective 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, General Mills has an average rating of “Hold” and an average price target of $69.06.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by insiders.

General Mills Trading Up 1.1 %

Shares of GIS stock opened at $60.62 on Monday. The company’s 50-day moving average price is $60.49 and its 200-day moving average price is $66.23. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The stock has a market cap of $33.42 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.96%. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

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.