Envestnet Asset Management Inc. Grows Stock Position in General Mills, Inc. (NYSE:GIS)

Envestnet Asset Management Inc. lifted its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 641,045 shares of the company's stock after buying an additional 50,987 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of General Mills worth $40,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gladstone Institutional Advisory LLC raised its position in General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock valued at $304,000 after purchasing an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of General Mills by 11.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company's stock worth $53,211,000 after buying an additional 85,612 shares during the period. JPMorgan Chase & Co. raised its stake in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of General Mills by 10.6% in the 4th quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock valued at $30,900,000 after purchasing an additional 46,536 shares during the last quarter. Finally, J2 Capital Management Inc acquired a new position in shares of General Mills in the fourth quarter valued at approximately $547,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction dated Friday, March 7th. The stock was 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 owns 353,346 shares of the company's stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GIS. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft cut their target price 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. Barclays cut their price objective on General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 18th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research note on Monday, March 17th. Finally, Piper Sandler dropped their target price on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.69.

General Mills Trading Down 1.9 %

Shares of General Mills stock traded down $1.10 during mid-day trading on Tuesday, hitting $57.90. 4,145,367 shares of the stock were exchanged, compared to its average volume of 4,404,020. The company has a 50-day simple moving average of $59.59 and a 200 day simple moving average of $63.26. 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 market capitalization of $31.92 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.17 EPS. Research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio is currently 52.75%.

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.