Kohmann Bosshard Financial Services LLC Acquires Shares of 485 General Mills, Inc. (NYSE:GIS)

Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 485 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in General Mills by 9.4% during the third 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 period. Nordea Investment Management AB raised its position in 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 purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. raised its position in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the period. Bank of New York Mellon Corp raised its position in General Mills by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock valued at $255,385,000 after purchasing an additional 207,346 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 2.4 %

Shares of NYSE:GIS opened at $62.07 on Tuesday. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The stock has a market cap of $34.21 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The business’s 50 day moving average is $60.46 and its 200 day moving average is $66.18. 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 (NYSE:GIS) last announced its earnings results 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. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.87%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler decreased their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Bank of America reduced their price target on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Barclays reduced their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Stifel Nicolaus reduced their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup reduced their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $69.06.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.