Signet Financial Management LLC Has $589,000 Stock Position in General Mills, Inc. (NYSE:GIS)

Signet Financial Management LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 9,243 shares of the company’s stock after selling 685 shares during the quarter. Signet Financial Management LLC’s holdings in General Mills were worth $589,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after purchasing an additional 43,086 shares during the period. JPMorgan Chase & Co. raised its position in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of 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 buying an additional 104,436 shares during the period. Nordea Investment Management AB grew its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares in the last quarter. Finally, Ellsworth Advisors LLC increased its stake in General Mills by 105.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after acquiring an additional 74,456 shares during the period. 75.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s 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 sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,541 shares of company stock valued at $3,321,170 in the last ninety days. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GIS has been the subject of a number of recent analyst reports. Barclays cut their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Piper Sandler increased their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $80.00 in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.31.

General Mills Stock Up 1.5 %

Shares of NYSE:GIS opened at $59.38 on Tuesday. General Mills, Inc. has a 52-week low of $58.27 and a 52-week high of $75.90. The company has a market capitalization of $32.73 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a fifty day moving average of $64.34 and a 200-day moving average of $67.67.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 4.04%. General Mills’s dividend payout ratio is presently 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.