Raymond James Financial Inc. Makes New $80.99 Million Investment in General Mills, Inc. (NYSE:GIS)

Raymond James Financial Inc. acquired a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,270,098 shares of the company's stock, valued at approximately $80,994,000. Raymond James Financial Inc. owned about 0.23% of General Mills at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Nordea Investment Management AB lifted its holdings in shares of General Mills by 64.5% during the 4th 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 during the last quarter. JPMorgan Chase & Co. lifted 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 valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. State Street Corp lifted its holdings in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company's stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Nepsis Inc. lifted its holdings in shares of General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company's stock valued at $138,023,000 after purchasing an additional 2,104,353 shares during the last quarter. Finally, DDD Partners LLC purchased a new stake in shares of General Mills during the 4th quarter valued at $21,776,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays decreased their price objective on General Mills from $74.00 to $68.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. Mizuho cut their target price on General Mills from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company cut their target price on 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 target price on General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup cut their target price on General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, General Mills currently has an average rating of "Hold" and a consensus price target of $69.06.

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Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company's stock.

General Mills Price Performance

Shares of GIS opened at $64.53 on Monday. The business's 50-day moving average is $60.33 and its two-hundred day moving average is $65.97. The company has a market capitalization of $35.57 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced 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 company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm earned $1.25 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio (DPR) is presently 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.

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