Impact Partnership Wealth LLC Acquires New Holdings in General Mills, Inc. (NYSE:GIS)

Impact Partnership Wealth LLC acquired a new position in General Mills, Inc. (NYSE:GIS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,920 shares of the company’s stock, valued at approximately $760,000.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after purchasing an additional 43,086 shares during the period. JPMorgan Chase & Co. lifted its stake 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 last quarter. J2 Capital Management Inc bought a new stake in General Mills during the fourth quarter worth approximately $547,000. Crossmark Global Holdings Inc. grew its position in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after buying an additional 104,436 shares during the last quarter. Finally, Nordea Investment Management AB increased 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 in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GIS. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. Stifel Nicolaus reduced their price target on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup reduced their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.31.

General Mills Stock Up 0.5 %

Shares of NYSE GIS opened at $59.62 on Friday. General Mills, Inc. has a 52-week low of $57.94 and a 52-week high of $75.90. 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 business has a fifty day moving average of $63.47 and a two-hundred day moving average of $67.45. The stock has a market cap of $32.87 billion, a PE ratio of 12.96, a PEG ratio of 3.70 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly 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 firm 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% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. As a group, equities research analysts expect that General Mills, Inc. will post 4.42 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.03%. General Mills’s dividend payout ratio is 52.17%.

Insiders Place Their Bets

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. 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.