Modern Wealth Management LLC Boosts Stock Position in General Mills, Inc. (NYSE:GIS)

Modern Wealth Management LLC raised its holdings in General Mills, Inc. (NYSE:GIS) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,524 shares of the company’s stock after purchasing an additional 672 shares during the period. Modern Wealth Management LLC’s holdings in General Mills were worth $263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GIS. Endeavor Private Wealth Inc. acquired a new stake in General Mills in the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills in the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills in the 4th quarter valued at about $31,000. VSM Wealth Advisory LLC acquired a new stake in shares of General Mills in the 4th quarter valued at about $32,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of General Mills during the fourth quarter worth about $34,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $59.09 on Friday. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The company has a market cap of $32.57 billion, a PE ratio of 12.85, a P/E/G ratio of 1.94 and a beta of 0.06. The stock has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $64.74. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.06%. General Mills’s dividend payout ratio (DPR) is 52.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on GIS. JPMorgan Chase & Co. cut their price objective on General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company dropped their price target 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. Piper Sandler decreased their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group increased their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.