CIBC Asset Management Inc Raises Position in General Mills, Inc. (NYSE:GIS)

CIBC Asset Management Inc lifted its position in General Mills, Inc. (NYSE:GIS) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,370 shares of the company’s stock after acquiring an additional 2,000 shares during the period. CIBC Asset Management Inc’s holdings in General Mills were worth $6,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC lifted its position in General Mills by 6.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after buying an additional 268 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after acquiring an additional 43,086 shares in the last quarter. JPMorgan Chase & Co. lifted its position in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the period. J2 Capital Management Inc bought a new stake in General Mills during the fourth quarter worth about $547,000. Finally, Crossmark Global Holdings Inc. grew its holdings in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after purchasing an additional 104,436 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of a number of analyst reports. Citigroup dropped their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus cut their target price on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, December 19th. Barclays reduced their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.88.

General Mills Price Performance

NYSE GIS opened at $57.94 on Thursday. The business’s fifty day moving average is $61.15 and its 200 day moving average is $66.66. 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 fifty-two week low of $55.15 and a fifty-two week high of $75.90. The company has a market capitalization of $31.94 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 3.79 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 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Sell-side analysts predict that General Mills, Inc. will post 4.4 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

General Mills Company 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.