Summit Financial LLC Makes New $486,000 Investment in General Mills, Inc. (NYSE:GIS)

Summit Financial LLC acquired a new stake 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 & Exchange Commission. The fund acquired 7,622 shares of the company's stock, valued at approximately $486,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIS. Gladstone Institutional Advisory LLC lifted its position in shares of General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after purchasing an additional 268 shares during the period. O Shaughnessy Asset Management LLC raised its stake in General Mills by 11.4% in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in General Mills by 105.2% in the third 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. J2 Capital Management Inc purchased a new position in shares of General Mills during the 4th quarter worth approximately $547,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of General Mills by 15.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company's stock worth $2,749,000 after acquiring an additional 5,853 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of NYSE GIS traded down $1.33 during trading on Friday, reaching $59.64. 7,577,878 shares of the company traded hands, compared to its average volume of 4,351,286. The firm has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $64.26. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The stock has a market capitalization of $32.87 billion, a PE ratio of 12.97, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

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

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio is 52.75%.

Insiders Place Their Bets

In other 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 value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on GIS. Jefferies Financial Group upped their price target on General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Bank of America decreased their price target on shares of General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company cut their price objective on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Finally, Barclays dropped their price target on General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, General Mills currently has a consensus rating of "Hold" and an average target price of $65.69.

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.