SPC Financial Inc. Increases Position in General Mills, Inc. (NYSE:GIS)

SPC Financial Inc. grew its position in shares of General Mills, Inc. (NYSE:GIS) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,259 shares of the company’s stock after purchasing an additional 570 shares during the period. SPC Financial Inc.’s holdings in General Mills were worth $846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in General Mills by 5.5% during the third quarter. Farther Finance Advisors LLC now owns 6,932 shares of the company’s stock worth $512,000 after purchasing an additional 363 shares during the period. Chicago Partners Investment Group LLC grew its holdings in shares of General Mills by 37.6% in the third quarter. Chicago Partners Investment Group LLC now owns 5,541 shares of the company’s stock valued at $380,000 after purchasing an additional 1,513 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the period. Van ECK Associates Corp lifted its holdings in General Mills by 9.7% during the 3rd quarter. Van ECK Associates Corp now owns 103,174 shares of the company’s stock worth $7,076,000 after buying an additional 9,119 shares in the last quarter. Finally, National Pension Service boosted its position in General Mills by 9.2% in the 3rd quarter. National Pension Service now owns 1,346,594 shares of the company’s stock valued at $99,446,000 after buying an additional 113,708 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler reduced their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Stifel Nicolaus decreased their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. TD Cowen dropped their price objective on shares of 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, Bank of America decreased their price objective on shares of General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.06.

General Mills Stock Down 1.5 %

GIS stock opened at $61.15 on Wednesday. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The company has a fifty day moving average price of $60.41 and a 200 day moving average price of $66.13.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.14 billion. During the same quarter last year, the company posted $1.25 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect 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. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity

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 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 of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

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.