Tyche Wealth Partners LLC Purchases New Position in General Mills, Inc. (NYSE:GIS)

Tyche Wealth Partners LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,961 shares of the company’s stock, valued at approximately $388,000.

Other hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC raised its holdings in shares of General Mills by 2.2% in the first quarter. IHT Wealth Management LLC now owns 5,817 shares of the company’s stock valued at $497,000 after buying an additional 126 shares during the last quarter. Atlas Capital Advisors LLC grew its stake in shares of General Mills by 2.1% during the fourth quarter. Atlas Capital Advisors LLC now owns 6,575 shares of the company’s stock valued at $551,000 after purchasing an additional 136 shares during the last quarter. L.M. Kohn & Company increased its holdings in shares of General Mills by 2.6% in the third quarter. L.M. Kohn & Company now owns 6,034 shares of the company’s stock valued at $386,000 after purchasing an additional 155 shares in the last quarter. Traverso Chambers Private Wealth Management LLC raised its position in General Mills by 1.0% in the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock worth $1,052,000 after purchasing an additional 156 shares during the last quarter. Finally, TrueWealth Advisors LLC boosted its position in General Mills by 4.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 3,837 shares of the company’s stock valued at $246,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the transaction, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Mills news, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the sale, the insider now directly owns 102,924 shares in the company, valued at $6,602,574.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 318,483 shares in the company, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. Insiders have sold 77,782 shares of company stock worth $5,057,820 over the last 90 days. Company insiders own 0.24% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $68.51 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a 50 day moving average price of $66.59 and a 200 day moving average price of $65.22. The stock has a market capitalization of $38.91 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.34 and a beta of 0.15. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $90.89.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is presently 54.13%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup initiated coverage on General Mills in a report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price objective for the company. Morgan Stanley upped their target price on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Wells Fargo & Company raised their price target on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Barclays increased their target price on General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $72.00 price target on shares of General Mills in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.18.

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