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

OFI Invest Asset Management acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 150,834 shares of the company's stock, valued at approximately $9,289,000.

Several other hedge funds also recently made changes to their positions in GIS. Endeavor Private Wealth Inc. purchased a new position in shares of General Mills during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Mills during the fourth quarter worth about $31,000. Bank of Jackson Hole Trust purchased a new position in shares of General Mills during the fourth quarter worth about $34,000. Planning Capital Management Corp grew its holdings in shares of 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 buying an additional 193 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Mills during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction 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. The trade was a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company's stock.

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Wall Street Analyst Weigh In

GIS has been the topic of a number of research reports. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Mizuho lowered their price target on General Mills from $72.00 to $65.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Citigroup lowered their price objective on General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lowered their price objective on General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price objective on General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, General Mills has an average rating of "Hold" and an average price target of $69.06.

General Mills Price Performance

Shares of GIS stock traded up $2.31 during midday trading on Friday, reaching $64.53. 8,966,679 shares of the company traded hands, compared to its average volume of 3,920,881. The firm's 50 day simple moving average is $60.33 and its two-hundred day simple moving average is $65.97. 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 firm has a market cap of $35.57 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data 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. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same period in the previous year, the company earned $1.25 EPS. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect 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. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend 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 presently 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.