Transce3nd LLC Acquires New Stake in General Mills, Inc. (NYSE:GIS)

Transce3nd LLC bought a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, Holdings Channel reports. The institutional investor bought 494 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its position in shares of General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after buying an additional 172 shares during the last quarter. TCW Group Inc. raised its holdings in General Mills by 0.8% in the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after acquiring an additional 194 shares during the last quarter. Quadrant Private Wealth Management LLC lifted its stake in shares of General Mills by 3.7% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company’s stock worth $356,000 after purchasing an additional 197 shares during the period. Howard Capital Management Inc. boosted its holdings in shares of General Mills by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock worth $250,000 after purchasing an additional 198 shares during the last quarter. Finally, Byrne Asset Management LLC grew its position in shares of General Mills by 20.0% in the fourth quarter. Byrne Asset Management LLC now owns 1,200 shares of the company’s stock valued at $77,000 after purchasing an additional 200 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

General Mills Stock Performance

General Mills stock opened at $58.08 on Wednesday. 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 company has a market capitalization of $32.02 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. The firm’s fifty day moving average price is $59.43 and its 200 day moving average price is $62.66.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping 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 business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. On average, research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.13%. General Mills’s dividend payout ratio is presently 52.75%.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of research analyst reports. Citigroup decreased their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Jefferies Financial Group increased their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Morgan Stanley assumed coverage on shares of General Mills in a research note on Monday, March 24th. They set an “underweight” rating and a $53.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $65.69.

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.