OFI Invest Asset Management Buys New Stake in General Mills, Inc. (NYSE:GIS)

OFI Invest Asset Management purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 150,834 shares of the company’s stock, valued at approximately $9,289,000.

A number of other institutional investors also recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. acquired a new stake in General Mills in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills in the 4th quarter worth about $31,000. Bank of Jackson Hole Trust acquired a new stake in shares of General Mills during the 4th quarter worth about $34,000. Planning Capital Management Corp raised its stake in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $38,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GIS. Mizuho dropped their price target on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Citigroup cut their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Piper Sandler decreased their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Barclays decreased their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Stifel Nicolaus dropped their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.06.

Insider Buying and Selling

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.

General Mills Stock Performance

Shares of General Mills stock opened at $64.53 on Friday. The stock’s fifty day simple moving average is $60.33 and its 200 day simple moving average is $66.00. 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 company has a market capitalization of $35.57 billion, a PE ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $1.25 earnings per share. General Mills’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.72%. General Mills’s dividend payout ratio is currently 52.17%.

General Mills 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.