Steward Partners Investment Advisory LLC Has $36.89 Million Holdings in General Mills, Inc. (NYSE:GIS)

Steward Partners Investment Advisory LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 0.1% during the fourth quarter, HoldingsChannel reports. The fund owned 578,438 shares of the company’s stock after selling 618 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in General Mills were worth $36,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Meridian Wealth Management LLC raised its holdings in shares of General Mills by 1.9% in the 4th quarter. Meridian Wealth Management LLC now owns 52,646 shares of the company’s stock worth $3,358,000 after acquiring an additional 1,005 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of General Mills in the 4th quarter worth about $15,496,000. Plato Investment Management Ltd raised its holdings in shares of General Mills by 32.4% in the 4th quarter. Plato Investment Management Ltd now owns 38,924 shares of the company’s stock worth $2,491,000 after acquiring an additional 9,529 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in General Mills in the 4th quarter valued at about $611,000. Finally, Jones Financial Companies Lllp increased its stake in General Mills by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 212,109 shares of the company’s stock valued at $13,526,000 after buying an additional 69,991 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 2.4 %

Shares of GIS stock opened at $62.07 on Tuesday. The company has a 50 day moving average of $60.46 and a 200-day moving average of $66.18. The firm has a market cap of $34.21 billion, a P/E ratio of 13.49, a PEG 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 quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The company 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%. General Mills’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm 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 3.87%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on GIS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Citigroup decreased their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. TD Cowen decreased their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Piper Sandler decreased their price objective 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, Barclays decreased their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $69.06.

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.