General Mills, Inc. (NYSE:GIS) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 28.9% in the fourth quarter, Holdings Channel reports. The firm owned 108,827 shares of the company’s stock after buying an additional 24,396 shares during the period. SVB Wealth LLC’s holdings in General Mills were worth $7,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its position in General Mills by 123,599.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after acquiring an additional 11,067,051 shares in the last quarter. Norges Bank acquired a new position in shares of General Mills during the fourth quarter worth about $382,081,000. Price T Rowe Associates Inc. MD grew its position in shares of General Mills by 101.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after buying an additional 3,496,741 shares in the last quarter. Nordea Investment Management AB grew its position in shares of General Mills by 48.7% during the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock worth $325,728,000 after buying an additional 1,654,111 shares in the last quarter. Finally, Morgan Stanley lifted its stake in General Mills by 14.6% in the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after buying an additional 1,051,169 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Trading Up 0.7 %

Shares of GIS stock opened at $67.82 on Wednesday. The business’s fifty day moving average price is $66.49 and its 200 day moving average price is $65.19. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The firm has a market capitalization of $38.51 billion, a PE ratio of 15.56, a P/E/G ratio of 2.32 and a beta of 0.15. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. General Mills’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is 54.13%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the sale, the insider now owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the sale, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the sale, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,782 shares of company stock valued at $5,057,820. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. TD Cowen boosted their price objective on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. HSBC boosted their price objective on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Stifel Nicolaus boosted their price objective on General Mills from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $72.18.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.