BerganKDV Wealth Management LLC Has $2.70 Million Stake in General Mills, Inc. (NYSE:GIS)

BerganKDV Wealth Management LLC grew its holdings in General Mills, Inc. (NYSE:GIS – Get Rating) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,810 shares of the company’s stock after buying an additional 686 shares during the period. BerganKDV Wealth Management LLC’s holdings in General Mills were worth $2,696,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GIS. IFM Investors Pty Ltd lifted its holdings in General Mills by 17.0% during the 1st quarter. IFM Investors Pty Ltd now owns 90,359 shares of the company’s stock worth $6,119,000 after purchasing an additional 13,104 shares during the last quarter. BLB&B Advisors LLC lifted its holdings in General Mills by 2.3% during the 1st quarter. BLB&B Advisors LLC now owns 6,545 shares of the company’s stock worth $443,000 after purchasing an additional 146 shares during the last quarter. Regentatlantic Capital LLC lifted its holdings in General Mills by 2.4% during the 1st quarter. Regentatlantic Capital LLC now owns 20,672 shares of the company’s stock worth $1,400,000 after purchasing an additional 481 shares during the last quarter. Metis Global Partners LLC lifted its holdings in General Mills by 54.1% during the 1st quarter. Metis Global Partners LLC now owns 12,205 shares of the company’s stock worth $826,000 after purchasing an additional 4,286 shares during the last quarter. Finally, Greenleaf Trust lifted its holdings in General Mills by 3.9% during the 1st quarter. Greenleaf Trust now owns 17,842 shares of the company’s stock worth $1,208,000 after purchasing an additional 673 shares during the last quarter. 74.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GIS shares. Royal Bank of Canada lifted their price target on General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a report on Friday, July 1st. Deutsche Bank Aktiengesellschaft raised their price objective on General Mills from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Citigroup raised their price objective on General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Piper Sandler raised their price objective on General Mills from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, June 30th. Finally, BMO Capital Markets raised their price objective on General Mills from $66.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.73.

Insider Buying and Selling

In related news, CAO Mark A. Pallot sold 2,255 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total transaction of $168,358.30. Following the sale, the chief accounting officer now owns 17,087 shares in the company, valued at approximately $1,275,715.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Mills news, insider Dana M. Mcnabb sold 10,993 shares of General Mills stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total transaction of $837,226.88. Following the transaction, the insider now directly owns 14,884 shares of the company’s stock, valued at approximately $1,133,565.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark A. Pallot sold 2,255 shares of General Mills stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $74.66, for a total value of $168,358.30. Following the transaction, the chief accounting officer now directly owns 17,087 shares in the company, valued at $1,275,715.42. The disclosure for this sale can be found here. Insiders have sold 42,737 shares of company stock worth $3,217,260 in the last 90 days. Insiders own 0.53% of the company’s stock.

General Mills Price Performance

Shares of GIS traded up $0.65 during midday trading on Friday, hitting $76.17. The company’s stock had a trading volume of 2,266,053 shares, compared to its average volume of 3,418,966. General Mills, Inc. has a one year low of $56.67 and a one year high of $76.94. The company’s fifty day simple moving average is $72.11 and its two-hundred day simple moving average is $69.69. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $45.49 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35.

General Mills (NYSE:GIS – Get Rating) last issued its quarterly earnings results on Wednesday, June 29th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.11. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.81 billion. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 7th. Investors of record on Friday, July 8th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s dividend payout ratio is currently 48.87%.

General Mills Company Profile

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General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.