Millstone Evans Group LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Millstone Evans Group LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,069 shares of the company’s stock, valued at approximately $259,000.

A number of other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of General Mills in the fourth quarter valued at $207,000. Kiker Wealth Management LLC acquired a new stake in shares of General Mills in the fourth quarter valued at $473,000. iA Global Asset Management Inc. grew its stake in shares of General Mills by 920.7% in the fourth quarter. iA Global Asset Management Inc. now owns 54,537 shares of the company’s stock valued at $3,478,000 after buying an additional 49,194 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of General Mills by 54.2% in the fourth quarter. Teacher Retirement System of Texas now owns 92,654 shares of the company’s stock valued at $5,909,000 after buying an additional 32,555 shares in the last quarter. Finally, Stokes Family Office LLC grew its stake in shares of General Mills by 108.2% in the fourth quarter. Stokes Family Office LLC now owns 9,433 shares of the company’s stock valued at $602,000 after buying an additional 4,903 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GIS. Mizuho dropped their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Monday, March 17th. JPMorgan Chase & Co. decreased their target price on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Piper Sandler decreased their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, TD Cowen decreased their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.53.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

General Mills Stock Up 0.8 %

Shares of NYSE GIS opened at $58.78 on Friday. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. 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 business has a 50-day moving average of $60.00 and a two-hundred day moving average of $65.28. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $1.17 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company 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 4.08%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

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.