Mission Wealth Management LP Grows Stake in General Mills, Inc. (NYSE:GIS)

Mission Wealth Management LP grew its stake in General Mills, Inc. (NYSE:GIS) by 11.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,938 shares of the company’s stock after purchasing an additional 1,277 shares during the period. Mission Wealth Management LP’s holdings in General Mills were worth $843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Trust Company N.A purchased a new stake in General Mills in the fourth quarter worth $50,000. Stratos Wealth Advisors LLC grew its stake in General Mills by 1.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 11,278 shares of the company’s stock worth $722,000 after acquiring an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of General Mills during the fourth quarter worth approximately $28,000. Sabal Trust CO boosted its holdings in shares of General Mills by 7,817.6% in the fourth quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock valued at $18,902,000 after purchasing an additional 286,514 shares during the period. Finally, Gradient Investments LLC increased its holdings in General Mills by 29.9% during the 4th quarter. Gradient Investments LLC now owns 2,238 shares of the company’s stock worth $146,000 after purchasing an additional 515 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the transaction, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.7 %

General Mills stock opened at $69.99 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The firm has a market cap of $39.75 billion, a PE ratio of 16.05, a P/E/G ratio of 2.43 and a beta of 0.15. The stock’s 50 day simple moving average is $67.96 and its two-hundred day simple moving average is $65.76. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $90.89.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays lifted their price objective on General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Morgan Stanley increased their target price on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Bank of America raised their price objective on General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. HSBC raised their price target on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Finally, TD Cowen increased their price objective on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.