General Mills, Inc. (NYSE:GIS) Shares Purchased by Signature Wealth Management Group

Signature Wealth Management Group raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,775 shares of the company’s stock after buying an additional 1,255 shares during the period. Signature Wealth Management Group’s holdings in General Mills were worth $3,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp lifted 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 buying an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB lifted 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 buying an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. lifted 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 buying an additional 2,926,232 shares in the last quarter. Amundi lifted its position in General Mills by 9.7% during the fourth quarter. Amundi now owns 4,082,376 shares of the company’s stock valued at $248,902,000 after buying an additional 360,368 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted 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 buying an additional 207,346 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This 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. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $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.

General Mills Stock Performance

Shares of GIS opened at $59.53 on Friday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a market cap of $32.82 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. 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 firm has a fifty day moving average of $60.10 and a 200-day moving average of $65.67.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share 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 company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.03%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

Analysts Set New Price Targets

GIS has been the topic of a number of recent research reports. Bank of America reduced their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Citigroup reduced their target price on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus price target of $67.71.

About General Mills

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.