General Mills, Inc. (NYSE:GIS) Position Increased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its holdings in shares of General Mills, Inc. (NYSE:GISFree Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,643 shares of the company’s stock after purchasing an additional 2,166 shares during the period. Pinnacle Financial Partners Inc’s holdings in General Mills were worth $2,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GIS. FWL Investment Management LLC acquired a new position in General Mills in the fourth quarter valued at approximately $25,000. Operose Advisors LLC increased its position in General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after buying an additional 274 shares during the period. Intrepid Capital Management Inc. bought a new stake in General Mills in the second quarter valued at $28,000. Bruce G. Allen Investments LLC acquired a new position in shares of General Mills during the fourth quarter valued at $28,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of General Mills during the third quarter worth about $28,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total transaction of $492,094.65. Following the transaction, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the transaction, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the sale, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,782 shares of company stock valued at $5,057,820. Company insiders own 0.24% of the company’s stock.

General Mills Stock Performance

GIS opened at $70.57 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. The firm has a market cap of $40.08 billion, a PE ratio of 16.19, a P/E/G ratio of 2.42 and a beta of 0.15. The business has a fifty day simple moving average of $65.55 and a 200-day simple moving average of $64.91. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $90.89.

General Mills (NYSE:GISGet Free Report) last released its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. General Mills’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.34%. General Mills’s dividend payout ratio (DPR) is presently 54.13%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America boosted their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. TD Cowen raised their target price on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Barclays boosted their price target on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Mizuho raised their price target on General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Evercore ISI cut their price objective on shares of General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research note on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.18.

View Our Latest Analysis on GIS

About General Mills

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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