Flagship Wealth Advisors LLC Acquires New Stake in General Mills, Inc. (NYSE:GIS)

Flagship Wealth Advisors LLC bought a new position in General Mills, Inc. (NYSE:GIS) in the 4th quarter, Holdings Channel reports. The firm bought 3,120 shares of the company’s stock, valued at approximately $199,000.

Several other hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. Nordea Investment Management AB lifted its holdings in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares during the period. Amundi lifted its holdings in shares of General Mills by 9.7% in the 4th quarter. Amundi now owns 4,082,376 shares of the company’s stock worth $248,902,000 after buying an additional 360,368 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of General Mills by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after purchasing an additional 207,346 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GIS. Mizuho decreased their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Bank of America decreased their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Citigroup decreased their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their target price on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.71.

General Mills Stock Down 0.5 %

Shares of GIS stock opened at $59.53 on Monday. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a market capitalization of $32.82 billion, a PE ratio of 12.94, a P/E/G ratio of 1.94 and a beta of 0.06. The stock’s 50-day simple moving average is $60.10 and its 200-day simple moving average is $65.62.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 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 firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.03%. General Mills’s payout ratio is 52.17%.

Insider Transactions at General Mills

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

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.