Lifeworks Advisors LLC Invests $653,000 in General Mills, Inc. (NYSE:GIS)

Lifeworks Advisors LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the fourth quarter, Holdings Channel reports. The firm bought 10,234 shares of the company’s stock, valued at approximately $653,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIS. State Street Corp grew its stake in General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. 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 acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. boosted its position in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the period. Bank of New York Mellon Corp increased its holdings in General Mills by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock valued at $255,385,000 after purchasing an additional 207,346 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 3.7 %

Shares of NYSE GIS opened at $64.53 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The stock’s 50 day moving average price is $60.33 and its two-hundred day moving average price is $66.00. 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 $35.57 billion, a P/E ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. On average, analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price 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. Wells Fargo & Company lowered their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Mizuho lowered their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, Stifel Nicolaus dropped their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.06.

Insider Activity

In related 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 sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.