GAMMA Investing LLC Buys New Stake in General Mills, Inc. (NYSE:GIS)

GAMMA Investing LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,073 shares of the company’s stock, valued at approximately $524,000.

A number of other large investors also recently made changes to their positions in GIS. International Assets Investment Management LLC lifted its stake in shares of General Mills by 4.8% during the 3rd quarter. International Assets Investment Management LLC now owns 7,323 shares of the company’s stock worth $469,000 after purchasing an additional 337 shares during the period. RFG Advisory LLC lifted its stake in shares of General Mills by 15.3% during the 3rd quarter. RFG Advisory LLC now owns 6,797 shares of the company’s stock worth $435,000 after purchasing an additional 904 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of General Mills by 4.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,170 shares of the company’s stock worth $267,000 after purchasing an additional 160 shares during the period. GHP Investment Advisors Inc. increased its holdings in shares of General Mills by 0.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 72,974 shares of the company’s stock worth $4,600,000 after buying an additional 430 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its holdings in shares of General Mills by 142.1% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,930 shares of the company’s stock worth $445,000 after buying an additional 4,068 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the transaction, the insider now owns 93,381 shares of the company’s stock, valued at approximately $6,462,899.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 17,726 shares of company stock valued at $1,187,811. Company insiders own 0.24% of the company’s stock.

General Mills Price Performance

General Mills stock traded up $0.84 during mid-day trading on Wednesday, hitting $71.66. The company’s stock had a trading volume of 1,776,913 shares, compared to its average volume of 4,242,056. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $40.70 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.46 and a beta of 0.15. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $90.89. The stock’s fifty day moving average price is $67.17 and its two-hundred day moving average price is $65.45.

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

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is 54.13%.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Barclays increased their price target on General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Wells Fargo & Company raised their target price 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 raised their target price 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. Mizuho raised their target price on General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their target price 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 investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $72.18.

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