Envestnet Asset Management Inc. Buys 50,987 Shares of General Mills, Inc. (NYSE:GIS)

Envestnet Asset Management Inc. lifted its stake in General Mills, Inc. (NYSE:GIS) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 641,045 shares of the company’s stock after buying an additional 50,987 shares during the quarter. Envestnet Asset Management Inc.’s holdings in General Mills were worth $40,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GIS. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of General Mills during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new position in General Mills in the 4th quarter worth $31,000. VSM Wealth Advisory LLC purchased a new stake in General Mills in the 4th quarter worth $32,000. Finally, Bank of Jackson Hole Trust bought a new stake in General Mills during the fourth quarter valued at about $34,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Up 1.3 %

NYSE:GIS opened at $57.92 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a 50-day simple moving average of $59.61 and a 200-day simple moving average of $63.44. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The firm has a market cap of $31.93 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. Equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is currently 52.75%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GIS. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Mizuho decreased their price target on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Finally, Morgan Stanley began coverage on General Mills in a report on Monday, March 24th. They issued an “underweight” rating and a $53.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.69.

Insider Buying and Selling at General Mills

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

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.