Sherman Asset Management Inc. Acquires Shares of 909 General Mills, Inc. (NYSE:GIS)

Sherman Asset Management Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 909 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mesirow Financial Investment Management Inc. boosted its stake in General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after acquiring an additional 148 shares during the last quarter. RFG Advisory LLC boosted its stake in General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after acquiring an additional 172 shares during the last quarter. Planning Capital Management Corp boosted its stake in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the last quarter. TCW Group Inc. boosted its stake in General Mills by 0.8% in the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after acquiring an additional 194 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its stake in General Mills by 3.3% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 6,176 shares of the company’s stock valued at $456,000 after acquiring an additional 196 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Trading Up 1.1 %

Shares of NYSE:GIS opened at $60.62 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 quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $60.49 and its 200 day simple moving average is $66.26. The firm 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 (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (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 firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the business earned $1.25 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

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

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction on 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. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. TD Cowen cut their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Mizuho cut their target price on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Barclays cut their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Citigroup cut their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $69.06.

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.