Allworth Financial LP Has $1.15 Million Holdings in General Mills, Inc. (NYSE:GIS)

Allworth Financial LP lifted its holdings in General Mills, Inc. (NYSE:GIS) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,360 shares of the company’s stock after acquiring an additional 1,519 shares during the period. Allworth Financial LP’s holdings in General Mills were worth $1,148,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Foundations Investment Advisors LLC lifted its position in General Mills by 27.9% during the third quarter. Foundations Investment Advisors LLC now owns 15,121 shares of the company’s stock worth $1,117,000 after purchasing an additional 3,303 shares during the period. Calton & Associates Inc. bought a new stake in General Mills during the third quarter worth about $240,000. Eastern Bank lifted its position in General Mills by 434.2% during the third quarter. Eastern Bank now owns 24,717 shares of the company’s stock worth $1,825,000 after purchasing an additional 20,090 shares during the period. Waldron Private Wealth LLC bought a new stake in General Mills during the third quarter worth about $746,000. Finally, Tempus Wealth Planning LLC lifted its position in General Mills by 8.3% during the third quarter. Tempus Wealth Planning LLC now owns 3,720 shares of the company’s stock worth $275,000 after purchasing an additional 285 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GIS. Mizuho cut their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Bank of America dropped their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.88.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $57.94 on Thursday. The company has a market capitalization of $31.94 billion, a PE ratio of 12.60, a P/E/G ratio of 3.79 and a beta of 0.10. The company has a 50 day simple moving average of $61.15 and a two-hundred day simple moving average of $66.66. 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) last released its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts anticipate that General Mills, Inc. will post 4.4 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. Shareholders 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 yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.17%.

General Mills 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.