Tobam Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

Tobam lowered its position in General Mills, Inc. (NYSE:GIS) by 37.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,648 shares of the company’s stock after selling 75,769 shares during the period. General Mills comprises about 2.5% of Tobam’s investment portfolio, making the stock its 2nd biggest holding. Tobam’s holdings in General Mills were worth $7,949,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of General Mills by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,906 shares of the company’s stock worth $5,606,000 after buying an additional 7,593 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of General Mills by 6.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,690,825 shares of the company’s stock worth $107,824,000 after acquiring an additional 96,442 shares during the last quarter. Guardian Wealth Advisors LLC grew its position in shares of General Mills by 2.0% during the 4th quarter. Guardian Wealth Advisors LLC now owns 10,332 shares of the company’s stock valued at $659,000 after acquiring an additional 206 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of General Mills in the 4th quarter worth $873,000. Finally, Leo Wealth LLC raised its holdings in General Mills by 208.6% in the 4th quarter. Leo Wealth LLC now owns 29,360 shares of the company’s stock worth $1,872,000 after purchasing an additional 19,846 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GIS. TD Cowen cut their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $80.00 in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. One research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $70.94.

General Mills Stock Down 0.7 %

NYSE GIS opened at $59.13 on Friday. The firm has a market cap of $32.60 billion, a PE ratio of 12.86, a P/E/G ratio of 3.88 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $62.60 and its 200-day simple moving average is $67.21. General Mills, Inc. has a 52 week low of $57.94 and a 52 week high of $75.90.

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 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 business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that General Mills, Inc. will post 4.4 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

Insider Buying and Selling

In other news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the 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 sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.