iA Global Asset Management Inc. Has $3.48 Million Stock Position in General Mills, Inc. (NYSE:GIS)

iA Global Asset Management Inc. boosted its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 920.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,537 shares of the company's stock after purchasing an additional 49,194 shares during the period. iA Global Asset Management Inc.'s holdings in General Mills were worth $3,478,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Endeavor Private Wealth Inc. acquired a new stake in shares of General Mills in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills in the fourth quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Mills in the 4th quarter valued at about $31,000. VSM Wealth Advisory LLC acquired a new position in shares of General Mills during the 4th quarter worth about $32,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of General Mills in the 4th quarter valued at about $34,000. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Barclays reduced their price objective on shares of 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. Mizuho dropped their price objective on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of General Mills in a research note on Monday, March 17th. One research 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $65.69.

Remove Ads

General Mills Price Performance

Shares of GIS stock traded down $0.42 during trading on Tuesday, hitting $57.75. The company had a trading volume of 4,987,361 shares, compared to its average volume of 4,114,724. The firm has a market capitalization of $31.83 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. 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 stock's 50-day moving average price is $59.97 and its 200 day moving average price is $65.06.

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

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills's dividend payout ratio is currently 52.75%.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

About General Mills

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.