NewEdge Advisors LLC Has $2.51 Million Holdings in General Mills, Inc. (NYSE:GIS)

NewEdge Advisors LLC boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,429 shares of the company’s stock after acquiring an additional 2,983 shares during the period. NewEdge Advisors LLC’s holdings in General Mills were worth $2,514,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its stake in General Mills by 1.2% during the 3rd quarter. Barclays PLC now owns 1,634,280 shares of the company’s stock valued at $120,691,000 after purchasing an additional 19,290 shares during the period. Bard Financial Services Inc. boosted its position in shares of General Mills by 0.6% in the third quarter. Bard Financial Services Inc. now owns 108,475 shares of the company’s stock valued at $8,011,000 after acquiring an additional 700 shares during the period. World Investment Advisors LLC acquired a new stake in shares of General Mills in the third quarter worth $403,000. Wilmington Savings Fund Society FSB increased its position in General Mills by 138.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 37,487 shares of the company’s stock worth $2,768,000 after acquiring an additional 21,790 shares during the period. Finally, Optimist Retirement Group LLC raised its stake in General Mills by 19.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 28,362 shares of the company’s stock valued at $2,095,000 after purchasing an additional 4,528 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GIS has been the topic of several research reports. Bank of America dropped their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Mizuho lowered their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company reduced their price objective on 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. Stifel Nicolaus decreased their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. One equities 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 company. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target of $65.69.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

GIS stock opened at $57.70 on Tuesday. The company has a 50 day moving average price of $59.46 and a 200 day moving average price of $62.69. The stock has a market capitalization of $31.81 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week 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.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 EPS. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.16%. General Mills’s dividend payout ratio (DPR) is currently 52.75%.

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.