General Mills, Inc. $GIS Shares Acquired by HF Advisory Group LLC

HF Advisory Group LLC lifted its stake in General Mills, Inc. (NYSE:GIS) by 550.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 79,156 shares of the company’s stock after acquiring an additional 66,981 shares during the quarter. HF Advisory Group LLC’s holdings in General Mills were worth $3,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp lifted its stake in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of General Mills by 15.9% in the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock valued at $494,548,000 after buying an additional 1,368,041 shares in the last quarter. Invesco Ltd. grew its stake in shares of General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after buying an additional 883,150 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of General Mills by 22.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after buying an additional 1,383,913 shares during the period. Finally, Capital World Investors lifted its stake in General Mills by 0.3% during the 3rd quarter. Capital World Investors now owns 5,585,110 shares of the company’s stock worth $281,601,000 after acquiring an additional 16,028 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GIS. Jefferies Financial Group lowered their target price on General Mills from $50.00 to $47.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Evercore set a $45.00 price target on shares of General Mills in a research note on Wednesday, February 18th. TD Cowen reduced their price target on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of General Mills from $42.00 to $36.00 and set an “underweight” rating for the company in a research note on Thursday, March 19th. Finally, Piper Sandler dropped their price objective on shares of General Mills from $53.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $43.56.

General Mills Trading Up 0.1%

GIS opened at $37.26 on Thursday. General Mills, Inc. has a 12 month low of $35.63 and a 12 month high of $62.61. The stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 9.11 and a beta of 0.01. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The business has a fifty day moving average price of $43.14 and a 200 day moving average price of $45.88.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. Sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.5%. General Mills’s payout ratio is currently 59.66%.

General Mills Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.