GC Wealth Management RIA LLC Boosts Stake in General Mills, Inc. (NYSE:GIS)

GC Wealth Management RIA LLC lifted its stake in General Mills, Inc. (NYSE:GIS) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,349 shares of the company’s stock after acquiring an additional 264 shares during the period. GC Wealth Management RIA LLC’s holdings in General Mills were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp increased its stake 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 purchasing an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB increased its stake in 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 in the last quarter. JPMorgan Chase & Co. increased its stake 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. Amundi increased its stake in 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in General Mills by 5.5% in 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 buying an additional 207,346 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 4.8 %

Shares of NYSE:GIS opened at $62.15 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The company has a 50-day moving average price of $60.34 and a 200 day moving average price of $65.87. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) 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 net margin of 13.08% and a return on equity of 27.55%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, equities research analysts predict 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Transactions at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills 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 in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Barclays cut their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, December 19th. Mizuho cut their price target 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. Finally, Citigroup cut their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.