Graypoint LLC Grows Holdings in General Mills, Inc. (NYSE:GIS)

Graypoint LLC increased its position in shares of General Mills, Inc. (NYSE:GIS) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,696 shares of the company’s stock after buying an additional 239 shares during the period. Graypoint LLC’s holdings in General Mills were worth $1,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. Daiwa Securities Group Inc. increased its stake in General Mills by 5.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 61,535 shares of the company’s stock worth $3,893,000 after buying an additional 3,310 shares during the period. LPL Financial LLC increased its position in shares of General Mills by 9.0% in the 2nd quarter. LPL Financial LLC now owns 764,816 shares of the company’s stock worth $48,382,000 after purchasing an additional 63,113 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in shares of General Mills in the 2nd quarter worth about $79,000. Achmea Investment Management B.V. increased its position in shares of General Mills by 4.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 40,677 shares of the company’s stock worth $2,573,000 after purchasing an additional 1,891 shares during the last quarter. Finally, BOKF NA increased its position in shares of General Mills by 1.8% in the 2nd quarter. BOKF NA now owns 24,621 shares of the company’s stock worth $1,558,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’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 value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,624 shares of company stock worth $3,897,326. 0.26% of the stock is owned by corporate insiders.

General Mills Stock Down 4.0 %

GIS stock opened at $58.51 on Friday. General Mills, Inc. has a 52 week low of $58.27 and a 52 week high of $75.90. The company has a market capitalization of $32.25 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. The firm’s 50-day moving average is $64.51 and its two-hundred day moving average is $67.67. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm earned $1.25 EPS. General Mills’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.10%. General Mills’s dividend payout ratio (DPR) is 52.17%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GIS. Barclays dropped their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $80.00 in a report on Friday, December 13th. TD Cowen decreased their price target 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, Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. One research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.31.

About General Mills

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.