General Mills, Inc. (NYSE:GIS) Stake Boosted by Savvy Advisors Inc.

Savvy Advisors Inc. raised its position in shares of General Mills, Inc. (NYSE:GIS) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,980 shares of the company’s stock after buying an additional 385 shares during the quarter. Savvy Advisors Inc.’s holdings in General Mills were worth $254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Mills during the 4th quarter valued at $31,000. VSM Wealth Advisory LLC purchased a new stake in shares of General Mills in the fourth quarter valued at $32,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of General Mills in the fourth quarter worth $34,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of NYSE GIS opened at $57.90 on Wednesday. The business’s 50-day simple moving average is $59.57 and its 200-day simple moving average is $63.22. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The firm has a market cap of $31.92 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is 52.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GIS shares. Jefferies Financial Group increased their price objective on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Monday, March 17th. Morgan Stanley assumed coverage on shares of General Mills in a research report on Monday, March 24th. They set an “underweight” rating and a $53.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, TD Cowen decreased their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.69.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

General Mills 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.