Heck Capital Advisors LLC Buys New Position in General Mills, Inc. (NYSE:GIS)

Heck Capital Advisors LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 600 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares during the period. Nordea Investment Management AB lifted its position in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares during the period. JPMorgan Chase & Co. lifted its position in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares during the period. Finally, abrdn plc lifted its position in shares of General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after acquiring an additional 92,931 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 0.4 %

NYSE GIS opened at $59.91 on Tuesday. The stock has a fifty day moving average of $62.99 and a 200-day moving average of $67.34. The stock has a market capitalization of $33.02 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 3.88 and a beta of 0.10. 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.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’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. On average, equities research analysts forecast that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.01%. General Mills’s dividend payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIS. Wells Fargo & Company reduced their price objective on General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Citigroup cut their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. Finally, Bank of America upgraded General Mills from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $70.94.

Insider Transactions at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated 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 owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.