HB Wealth Management LLC Increases Holdings in General Mills, Inc. (NYSE:GIS)

HB Wealth Management LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,479 shares of the company’s stock after acquiring an additional 961 shares during the period. HB Wealth Management LLC’s holdings in General Mills were worth $2,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Ieq Capital LLC grew its holdings in shares of General Mills by 12.8% during the 2nd quarter. Ieq Capital LLC now owns 28,687 shares of the company’s stock worth $1,815,000 after acquiring an additional 3,257 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of General Mills by 2.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 56,101 shares of the company’s stock worth $3,549,000 after acquiring an additional 1,258 shares during the period. Bridges Investment Management Inc. grew its holdings in shares of General Mills by 31.1% during the 2nd quarter. Bridges Investment Management Inc. now owns 9,493 shares of the company’s stock worth $601,000 after acquiring an additional 2,252 shares during the period. AE Wealth Management LLC grew its holdings in shares of General Mills by 22.0% during the 2nd quarter. AE Wealth Management LLC now owns 45,420 shares of the company’s stock worth $2,873,000 after acquiring an additional 8,200 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of General Mills by 13.2% during the 2nd quarter. Sei Investments Co. now owns 403,948 shares of the company’s stock worth $25,554,000 after acquiring an additional 47,239 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

GIS stock opened at $59.64 on Monday. The stock has a market capitalization of $32.88 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.11. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The stock’s 50 day simple moving average is $63.76 and its 200 day simple moving average is $67.52. General Mills, Inc. has a 12-month low of $57.94 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.25 EPS. As a group, research analysts forecast that General Mills, Inc. will post 4.42 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills’s dividend payout ratio is presently 52.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus dropped their price target on General Mills from $82.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Citigroup dropped their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays dropped their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 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 stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $71.31.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,541 shares of company stock worth $3,321,170. Insiders own 0.26% of the company’s stock.

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.