Assetmark Inc. Raises Holdings in General Mills, Inc. (NYSE:GIS)

Assetmark Inc. boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 575,697 shares of the company’s stock after acquiring an additional 12,307 shares during the period. Assetmark Inc.’s holdings in General Mills were worth $36,712,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GIS. Farther Finance Advisors LLC increased its holdings in General Mills by 5.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,932 shares of the company’s stock worth $512,000 after purchasing an additional 363 shares during the period. Janney Montgomery Scott LLC increased its holdings in General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after purchasing an additional 43,086 shares during the period. Van ECK Associates Corp increased its holdings in General Mills by 9.7% during the 3rd quarter. Van ECK Associates Corp now owns 103,174 shares of the company’s stock worth $7,076,000 after purchasing an additional 9,119 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in General Mills during the 3rd quarter worth about $44,000. Finally, Crestwood Advisors Group LLC increased its holdings in General Mills by 5.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 5,038 shares of the company’s stock worth $372,000 after purchasing an additional 258 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

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 transaction of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several recent research reports. Barclays cut their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Mizuho lowered their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. Piper Sandler lowered their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Finally, Bank of America lowered their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.06.

General Mills Price Performance

Shares of NYSE:GIS opened at $60.96 on Thursday. The business’s fifty day moving average price is $60.35 and its two-hundred day moving average price is $66.09. The stock has a market cap of $33.60 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (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 business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is 52.17%.

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.