General Mills, Inc. (NYSE:GIS) Shares Purchased by SlateStone Wealth LLC

SlateStone Wealth LLC raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,305 shares of the company’s stock after buying an additional 478 shares during the period. SlateStone Wealth LLC’s holdings in General Mills were worth $721,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Endeavor Private Wealth Inc. acquired a new position in shares of General Mills in the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $31,000. Bank of Jackson Hole Trust acquired a new position in shares of General Mills in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GIS. Piper Sandler lowered their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company dropped their target price on shares of 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. Jefferies Financial Group lifted their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. Finally, TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.71.

General Mills Trading Down 0.5 %

Shares of General Mills stock opened at $59.53 on Monday. The firm has a market capitalization of $32.82 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. 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 $60.10 and its two-hundred day moving average price is $65.62. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90.

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

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.03%. General Mills’s dividend payout ratio is presently 52.17%.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.