Lifeworks Advisors LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Lifeworks Advisors LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,234 shares of the company’s stock, valued at approximately $653,000.

Other large investors have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC raised its stake in shares of General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after buying an additional 268 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. J2 Capital Management Inc purchased a new position in General Mills in the fourth quarter worth $547,000. Crossmark Global Holdings Inc. lifted its holdings in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of General Mills by 64.5% during 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 in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated 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 sale, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GIS. Citigroup cut their price target 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. Barclays dropped their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler dropped their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Bank of America reduced their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. One 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 stock. According to MarketBeat, General Mills has a consensus rating of “Hold” and a consensus price target of $69.06.

General Mills Price Performance

General Mills stock opened at $64.53 on Friday. The stock has a market capitalization of $35.57 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm’s 50-day moving average is $60.33 and its two-hundred day moving average is $66.00.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion for 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 company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Equities analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is currently 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.