JPL Wealth Management LLC Takes $3.39 Million Position in General Mills, Inc. (NYSE:GIS)

JPL Wealth Management LLC bought a new stake in General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 53,222 shares of the company’s stock, valued at approximately $3,394,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GIS. Nordea Investment Management AB raised its holdings in shares of General Mills by 64.5% in 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. raised its holdings in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. State Street Corp raised its holdings in shares of General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. Nepsis Inc. raised its holdings in shares of General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after buying an additional 2,104,353 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of General Mills in the fourth quarter valued at about $80,994,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction 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 sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the 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 completion of the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % 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 Price Performance

Shares of GIS opened at $60.03 on Thursday. 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 stock has a 50 day simple moving average of $60.26 and a 200 day simple moving average of $65.83. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The firm has a market capitalization of $33.09 billion, a PE ratio of 13.05, a P/E/G ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last issued its quarterly earnings data 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 return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the firm earned $1.25 EPS. General Mills’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Citigroup dropped their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Piper Sandler dropped their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. TD Cowen dropped their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.24.

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.