General Mills, Inc. (NYSE:GIS) Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its stake in General Mills, Inc. (NYSE:GIS) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,755 shares of the company’s stock after acquiring an additional 407 shares during the quarter. Jacobi Capital Management LLC’s holdings in General Mills were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the fourth quarter valued at $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of General Mills in the fourth quarter valued at $34,000. Planning Capital Management Corp lifted its position in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of General Mills in the fourth quarter valued at $38,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of General Mills by 150.2% in the fourth quarter. Capital Advisors Ltd. LLC now owns 653 shares of the company’s stock valued at $42,000 after acquiring an additional 392 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated 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 owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

General Mills stock opened at $60.62 on Friday. The stock’s 50-day moving average is $60.49 and its 200-day moving average is $66.26. The company has a market cap of $33.42 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings data 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 return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the business posted $1.25 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.96%. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GIS shares. Stifel Nicolaus reduced their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Piper Sandler reduced their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. Wells Fargo & Company reduced their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Mizuho reduced their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.06.

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.