Moran Wealth Management LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Moran Wealth Management LLC acquired a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 117,056 shares of the company's stock, valued at approximately $7,465,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company's stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB grew its stake in General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock valued at $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after buying an additional 2,926,232 shares during the period. Amundi grew its stake in General Mills by 9.7% during the fourth quarter. Amundi now owns 4,082,376 shares of the company's stock worth $248,902,000 after buying an additional 360,368 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in General Mills by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company's stock valued at $255,385,000 after buying an additional 207,346 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

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Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 353,346 shares of the company's stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

General Mills Price Performance

GIS stock traded down $1.27 during trading on Wednesday, reaching $61.06. The company's stock had a trading volume of 2,517,112 shares, compared to its average volume of 3,948,680. The company has a market capitalization of $33.66 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company's fifty day moving average is $60.34 and its 200-day moving average is $65.87. 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 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio is presently 52.17%.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their target price on General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. TD Cowen cut their price target on shares of General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, December 19th. Finally, Citigroup lowered their target price on shares of General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $68.24.

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.