CIBC Asset Management Inc Buys 2,000 Shares of General Mills, Inc. (NYSE:GIS)

CIBC Asset Management Inc grew its stake in General Mills, Inc. (NYSE:GIS) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 98,370 shares of the company’s stock after purchasing an additional 2,000 shares during the period. CIBC Asset Management Inc’s holdings in General Mills were worth $6,273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Foundations Investment Advisors LLC raised its stake in shares of General Mills by 27.9% in the third quarter. Foundations Investment Advisors LLC now owns 15,121 shares of the company’s stock valued at $1,117,000 after acquiring an additional 3,303 shares during the period. Calton & Associates Inc. purchased a new stake in General Mills in the 3rd quarter worth about $240,000. Eastern Bank lifted its stake in General Mills by 434.2% in the third quarter. Eastern Bank now owns 24,717 shares of the company’s stock worth $1,825,000 after purchasing an additional 20,090 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in shares of General Mills during the third quarter valued at approximately $746,000. Finally, Tempus Wealth Planning LLC grew its stake in shares of General Mills by 8.3% during the third quarter. Tempus Wealth Planning LLC now owns 3,720 shares of the company’s stock valued at $275,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GIS. Citigroup decreased their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Bank of America reduced their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho lowered their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $69.88.

General Mills Trading Up 0.7 %

Shares of NYSE:GIS opened at $57.94 on Thursday. The company has a market capitalization of $31.94 billion, a PE ratio of 12.60, a P/E/G ratio of 3.79 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The business’s fifty day simple moving average is $61.15 and its 200-day simple moving average is $66.66.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, equities research analysts predict that General Mills, Inc. will post 4.4 earnings per share 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. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.14%. General Mills’s payout ratio is 52.17%.

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.