General Mills, Inc. (NYSE:GIS) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its stake in General Mills, Inc. (NYSE:GIS) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 45,862 shares of the company’s stock after purchasing an additional 4,165 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in General Mills were worth $2,925,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC increased its holdings in General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after buying an additional 43,086 shares during the last quarter. JPMorgan Chase & Co. grew 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 in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after acquiring an additional 104,436 shares in the last quarter. Nordea Investment Management AB increased its holdings 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 valued at $497,054,000 after acquiring an additional 3,058,414 shares during the last quarter. Finally, Ellsworth Advisors LLC raised its position in shares of General Mills by 105.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after acquiring an additional 74,456 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Bank of America raised shares of 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 report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $71.31.

General Mills Stock Up 1.5 %

GIS opened at $59.21 on Friday. The stock’s 50 day moving average price is $63.99 and its 200 day moving average price is $67.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The stock has a market cap of $32.64 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.65 and a beta of 0.11. General Mills, Inc. has a 12 month low of $57.94 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings results 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts predict that General Mills, Inc. will post 4.42 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insider Transactions at General Mills

In related news, 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 transaction of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,541 shares of company stock valued at $3,321,170. Company insiders own 0.26% of the company’s stock.

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.