General Mills, Inc. (NYSE:GIS) Shares Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC increased its position in shares of General Mills, Inc. (NYSE:GIS) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,723 shares of the company’s stock after purchasing an additional 1,885 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in General Mills were worth $1,257,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GIS. Pitcairn Co. lifted its stake in General Mills by 22.7% during the 4th quarter. Pitcairn Co. now owns 16,635 shares of the company’s stock valued at $1,061,000 after acquiring an additional 3,073 shares during the period. Arete Wealth Advisors LLC raised its holdings in shares of General Mills by 17.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 3,815 shares of the company’s stock worth $242,000 after purchasing an additional 560 shares during the last quarter. World Investment Advisors lifted its position in General Mills by 67.7% during the fourth quarter. World Investment Advisors now owns 9,152 shares of the company’s stock valued at $584,000 after purchasing an additional 3,695 shares during the period. Westpac Banking Corp lifted its position in General Mills by 1.9% during the fourth quarter. Westpac Banking Corp now owns 70,330 shares of the company’s stock valued at $4,485,000 after purchasing an additional 1,319 shares during the period. Finally, OneAscent Financial Services LLC purchased a new stake in General Mills in the fourth quarter valued at $276,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 2.2 %

Shares of General Mills stock opened at $59.64 on Friday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The firm’s 50-day moving average price is $59.97 and its 200 day moving average price is $64.26. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $32.87 billion, a PE ratio of 12.97, a P/E/G ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.75%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GIS shares. Barclays decreased their price objective on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. TD Cowen decreased their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Bank of America dropped their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $65.69.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.