Miracle Mile Advisors LLC Acquires New Shares in General Mills, Inc. (NYSE:GIS)

Miracle Mile Advisors LLC bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,473 shares of the company's stock, valued at approximately $668,000.

A number of other large investors have also recently bought and sold shares of GIS. Mesirow Financial Investment Management Inc. increased its stake in shares of General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company's stock valued at $999,000 after acquiring an additional 148 shares in the last quarter. Ballentine Partners LLC grew its holdings in General Mills by 1.1% in the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company's stock worth $1,097,000 after purchasing an additional 165 shares during the period. EP Wealth Advisors LLC increased its stake in General Mills by 0.8% in the second quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company's stock valued at $1,368,000 after purchasing an additional 172 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of General Mills by 1.7% during the third quarter. Stratos Wealth Advisors LLC now owns 10,604 shares of the company's stock valued at $783,000 after purchasing an additional 173 shares during the period. Finally, Pathway Financial Advisers LLC boosted its position in shares of General Mills by 2.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 6,789 shares of the company's stock worth $428,000 after purchasing an additional 174 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GIS. TD Cowen decreased their target price on General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Barclays reduced their price target on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of General Mills from $82.00 to $78.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $71.31.

Insider Transactions at General Mills

In other General Mills news, Director Maria Sastre sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,541 shares of company stock worth $3,321,170 in the last quarter. Insiders own 0.26% of the company's stock.

General Mills Stock Performance

General Mills stock traded up $0.90 during mid-day trading on Thursday, reaching $59.21. 3,794,798 shares of the company's stock were exchanged, compared to its average volume of 4,729,550. The business's fifty day simple moving average is $63.99 and its 200 day simple moving average is $67.58. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a one year low of $57.94 and a one year high of $75.90. The firm has a market capitalization of $32.64 billion, a PE ratio of 12.87, a P/E/G ratio of 3.65 and a beta of 0.11.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. On average, sell-side analysts expect that General Mills, Inc. will post 4.42 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, January 10th. General Mills's payout ratio is 52.17%.

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.