Signature Wealth Management Group Has $3.05 Million Holdings in General Mills, Inc. (NYSE:GIS)

Signature Wealth Management Group boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,775 shares of the company’s stock after buying an additional 1,255 shares during the period. Signature Wealth Management Group’s holdings in General Mills were worth $3,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIS. Aigen Investment Management LP acquired a new stake in General Mills during the 3rd quarter worth about $225,000. Oppenheimer Asset Management Inc. acquired a new position in shares of General Mills in the 3rd quarter valued at about $243,000. OneDigital Investment Advisors LLC increased its holdings in shares of General Mills by 9.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,186 shares of the company’s stock valued at $752,000 after purchasing an additional 838 shares during the period. CIBC Asset Management Inc increased its holdings in shares of General Mills by 5.9% in the 3rd quarter. CIBC Asset Management Inc now owns 96,370 shares of the company’s stock valued at $7,117,000 after purchasing an additional 5,371 shares during the period. Finally, Empirical Finance LLC increased its holdings in shares of General Mills by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 20,160 shares of the company’s stock valued at $1,489,000 after purchasing an additional 388 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.5 %

GIS opened at $59.53 on Friday. General Mills, Inc. has a 1-year low of $55.15 and a 1-year 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. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.94 and a beta of 0.06. The business has a 50 day moving average of $60.10 and a 200-day moving average of $65.67.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the business earned $1.25 earnings per share. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, 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. 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 4.03%. General Mills’s dividend payout ratio is 52.17%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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 report on Wednesday, February 19th. Stifel Nicolaus dropped their target price on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft dropped their target price on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. TD Cowen dropped their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $67.71.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.