Parallel Advisors LLC Has $1.41 Million Position in General Mills, Inc. (NYSE:GIS)

Parallel Advisors LLC lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,083 shares of the company’s stock after purchasing an additional 759 shares during the quarter. Parallel Advisors LLC’s holdings in General Mills were worth $1,408,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GIS. Endeavor Private Wealth Inc. acquired a new stake in shares of General Mills during the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills during the fourth quarter worth about $31,000. Bank of Jackson Hole Trust acquired a new stake in shares of General Mills during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Mills during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup decreased their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Wells Fargo & Company decreased their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Piper Sandler decreased 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. JPMorgan Chase & Co. decreased their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Mizuho decreased their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.53.

General Mills Stock Down 1.0 %

GIS stock opened at $60.33 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. The business has a 50 day moving average price of $60.08 and a two-hundred day moving average price of $65.47. The company has a market cap of $33.25 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping 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 company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

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 paid 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 dividend yield of 3.98%. General Mills’s dividend payout ratio is currently 52.17%.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

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.