Wingate Wealth Advisors Inc. Buys Shares of 2,684 General Mills, Inc. (NYSE:GIS)

Wingate Wealth Advisors Inc. purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,684 shares of the company’s stock, valued at approximately $171,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after buying an additional 263,188 shares during the period. Finally, abrdn plc increased its holdings in General Mills by 3.9% during the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after buying an additional 92,931 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Stifel Nicolaus lowered their target price on General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. TD Cowen reduced their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. Finally, Citigroup reduced their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.94.

Insider Activity at General Mills

In other General Mills news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares of the company’s stock, 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. 0.26% of the stock is currently owned by insiders.

General Mills Stock Performance

Shares of NYSE GIS opened at $58.86 on Monday. The company has a market cap of $32.45 billion, a P/E ratio of 12.80, a P/E/G ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 52-week low of $57.94 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm’s fifty day moving average is $62.31 and its two-hundred day moving average is $67.14.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 4.4 EPS 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 given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. General Mills’s dividend 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.