SVB Wealth LLC Acquires 24,396 Shares of General Mills, Inc. (NYSE:GIS)

SVB Wealth LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,827 shares of the company’s stock after buying an additional 24,396 shares during the quarter. SVB Wealth LLC’s holdings in General Mills were worth $7,089,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GIS. Moneta Group Investment Advisors LLC lifted its position in shares of General Mills by 123,599.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after purchasing an additional 11,067,051 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of General Mills by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after purchasing an additional 75,902 shares in the last quarter. Morgan Stanley lifted its position in shares of General Mills by 14.6% during the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after purchasing an additional 1,051,169 shares in the last quarter. Northern Trust Corp lifted its position in shares of General Mills by 5.0% during the third quarter. Northern Trust Corp now owns 7,995,118 shares of the company’s stock valued at $511,608,000 after purchasing an additional 379,702 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of General Mills by 101.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after purchasing an additional 3,496,741 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HSBC lifted their price objective on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Stifel Nicolaus lifted their price objective on shares of General Mills from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Mizuho lifted their price objective on shares of General Mills from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Bank of America lifted their price objective on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.18.

General Mills Price Performance

GIS stock opened at $67.82 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The stock has a market cap of $38.51 billion, a PE ratio of 15.56, a P/E/G ratio of 2.32 and a beta of 0.15. The firm has a 50 day simple moving average of $66.49 and a two-hundred day simple moving average of $65.19.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, 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 issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 3.48%. General Mills’s dividend payout ratio is currently 54.13%.

Insider Activity at General Mills

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

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