IFP Advisors Inc Grows Position in General Mills, Inc. (NYSE:GIS)

IFP Advisors Inc lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,341 shares of the company’s stock after buying an additional 1,287 shares during the period. IFP Advisors Inc’s holdings in General Mills were worth $596,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in shares of 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 during the last quarter. Nordea Investment Management AB boosted its position in shares of 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 during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after buying an additional 263,188 shares during the last quarter. Finally, Nepsis Inc. boosted its position in shares of General Mills by 3,504.8% during the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after buying an additional 2,104,353 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Up 1.1 %

Shares of GIS opened at $60.62 on Friday. The business’s 50 day moving average is $60.49 and its 200 day moving average is $66.28. The company has a market capitalization of $33.42 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. 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 (NYSE:GIS) last issued its 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 company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Research analysts expect that General Mills, Inc. will post 4.36 earnings per share 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. Investors of record on Thursday, April 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at General Mills

In other General Mills news, 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 owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research reports. Bank of America dropped their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Barclays dropped their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. TD Cowen dropped their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Piper Sandler dropped their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $69.06.

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.