Cyndeo Wealth Partners LLC Raises Stake in General Mills, Inc. (NYSE:GIS)

Cyndeo Wealth Partners LLC increased its position in General Mills, Inc. (NYSE:GIS) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,668 shares of the company’s stock after buying an additional 7,016 shares during the period. Cyndeo Wealth Partners LLC’s holdings in General Mills were worth $6,292,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new position in General Mills during the fourth quarter worth about $26,000. Values First Advisors Inc. acquired a new stake in shares of General Mills in the third quarter worth approximately $27,000. Planning Capital Management Corp increased its position in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in General Mills during the third quarter worth approximately $44,000. Finally, Rise Advisors LLC boosted its holdings in shares of General Mills by 46.7% in the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GIS. Barclays reduced their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a research report on Friday. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $80.00 in a research report on Friday, December 13th. Wells Fargo & Company cut their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus price target of $70.94.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated Friday, December 20th. The shares were 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 of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction that occurred on 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 approximately $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $60.37 on Friday. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 3.70 and a beta of 0.11. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $63.31 and its two-hundred day moving average is $67.38. General Mills, Inc. has a 52-week low of $57.94 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Analysts forecast that General Mills, Inc. will post 4.42 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.98%. General Mills’s dividend payout ratio (DPR) is 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.