JPL Wealth Management LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

JPL Wealth Management LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 53,222 shares of the company’s stock, valued at approximately $3,394,000.

Several other large investors have also recently added to or reduced their stakes in the company. Endeavor Private Wealth Inc. acquired a new stake in shares of General Mills during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills during the 4th quarter worth $31,000. Bank of Jackson Hole Trust acquired a new stake in shares of General Mills during the 4th quarter worth $34,000. Planning Capital Management Corp grew its holdings in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Mills during the 4th quarter worth $38,000. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of GIS opened at $60.03 on Thursday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. 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 has a market capitalization of $33.09 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The business has a 50-day moving average of $60.26 and a 200-day moving average of $65.83.

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 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 during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.25 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.00%. General Mills’s payout ratio is currently 52.17%.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on GIS. 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 report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup reduced their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Mizuho reduced their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Bank of America reduced their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $68.24.

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.