Lake Street Advisors Group LLC Grows Position in General Mills, Inc. (NYSE:GIS)

Lake Street Advisors Group LLC increased its position in General Mills, Inc. (NYSE:GIS) by 17.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,602 shares of the company’s stock after purchasing an additional 844 shares during the period. Lake Street Advisors Group LLC’s holdings in General Mills were worth $357,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. grew its holdings in General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after acquiring an additional 148 shares during the last quarter. RFG Advisory LLC grew its stake in shares of General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock worth $425,000 after purchasing an additional 172 shares during the last quarter. Planning Capital Management Corp grew its stake in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the last quarter. TCW Group Inc. increased its holdings in General Mills by 0.8% during the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after purchasing an additional 194 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. raised its position in General Mills by 3.3% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 6,176 shares of the company’s stock valued at $456,000 after purchasing an additional 196 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

GIS stock opened at $59.99 on Friday. 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 50 day moving average price of $60.55 and a 200-day moving average price of $66.33. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is 52.17%.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were 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 represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Bank of America cut their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Citigroup cut their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Piper Sandler reduced their price target 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.