OneAscent Financial Services LLC Buys Shares of 4,325 General Mills, Inc. (NYSE:GIS)

OneAscent Financial Services LLC acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,325 shares of the company's stock, valued at approximately $276,000.

Other hedge funds also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC grew its holdings in General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after purchasing an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in General Mills by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company's stock valued at $53,211,000 after buying an additional 85,612 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of General Mills by 10.6% during the fourth quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock worth $30,900,000 after acquiring an additional 46,536 shares during the last quarter. Finally, J2 Capital Management Inc acquired a new position in shares of General Mills during the fourth quarter valued at about $547,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 1.2 %

NYSE:GIS traded down $0.67 during trading hours on Thursday, hitting $56.79. The company's stock had a trading volume of 1,739,350 shares, compared to its average volume of 4,392,250. The stock has a market capitalization of $31.30 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. 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 has a fifty day moving average of $59.68 and a 200-day moving average of $63.67. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90.

Remove Ads

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data 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. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the company earned $1.17 earnings per share. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills's payout ratio is currently 52.75%.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value 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 $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GIS shares. Barclays reduced their price objective on General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group increased their target price on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. cut their target price on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Stifel Nicolaus cut their price objective on General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Finally, Mizuho decreased their target price on General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. 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 data from MarketBeat, General Mills currently has a consensus rating of "Hold" and an average target price of $65.69.

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.