Strategic Financial Concepts LLC Acquires Shares of 13,687 General Mills, Inc. (NYSE:GIS)

Strategic Financial Concepts LLC bought a new position in General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,687 shares of the company’s stock, valued at approximately $873,000.

A number of other institutional investors have also recently made changes to their positions in GIS. State Street Corp boosted its stake in General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after buying an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after buying an additional 263,188 shares during the last quarter. Finally, abrdn plc lifted its stake in General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after acquiring an additional 92,931 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GIS. Mizuho decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and increased their target price for the company from $78.00 to $80.00 in a report on Friday, December 13th. Finally, Wells Fargo & Company cut their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.13.

General Mills Price Performance

Shares of General Mills stock opened at $57.53 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The stock’s 50-day simple moving average is $61.47 and its 200-day simple moving average is $66.81. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. As a group, analysts expect that General Mills, Inc. will post 4.4 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.17%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

General Mills 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.