Stokes Family Office LLC Increases Position in General Mills, Inc. (NYSE:GIS)

Stokes Family Office LLC increased its stake in General Mills, Inc. (NYSE:GIS) by 108.2% in the 4th quarter, Holdings Channel reports. The fund owned 9,433 shares of the company’s stock after buying an additional 4,903 shares during the quarter. Stokes Family Office LLC’s holdings in General Mills were worth $602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. West Tower Group LLC purchased a new position in General Mills in the fourth quarter worth $434,000. VSM Wealth Advisory LLC purchased a new position in General Mills in the fourth quarter worth $32,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in General Mills by 2.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 342,441 shares of the company’s stock worth $21,837,000 after acquiring an additional 8,565 shares in the last quarter. Enhancing Capital LLC purchased a new position in General Mills in the fourth quarter worth $950,000. Finally, Intech Investment Management LLC boosted its position in General Mills by 20.2% during the fourth quarter. Intech Investment Management LLC now owns 183,861 shares of the company’s stock valued at $11,725,000 after buying an additional 30,856 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price target on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. TD Cowen cut their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Barclays cut their price target on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Mizuho cut their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $67.53.

General Mills Price Performance

GIS stock opened at $60.33 on Wednesday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a market cap of $33.25 billion, a P/E ratio of 13.11, a PEG ratio of 1.94 and a beta of 0.06. The firm has a 50-day moving average of $60.08 and a 200 day moving average of $65.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. General Mills’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is 52.17%.

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.