King Luther Capital Management Corp Has $8.13 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

King Luther Capital Management Corp lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,524 shares of the company’s stock after acquiring an additional 1,015 shares during the quarter. King Luther Capital Management Corp’s holdings in General Mills were worth $8,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. Endeavor Private Wealth Inc. bought a new position in General Mills during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills during the fourth quarter worth $31,000. Planning Capital Management Corp raised its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after buying an additional 193 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in General Mills in the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in General Mills during the fourth quarter valued at $38,000. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of NYSE GIS opened at $62.15 on Wednesday. The stock has a market cap of $34.26 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The firm’s 50-day simple moving average is $60.34 and its 200 day simple moving average is $65.87.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal 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 issued a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.86%. General Mills’s dividend payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GIS shares. JPMorgan Chase & Co. lowered their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Citigroup lowered their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.24.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction 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. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents 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.

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.