RWA Wealth Partners LLC Has $2.20 Million Position in General Mills, Inc. (NYSE:GIS)

RWA Wealth Partners LLC grew its position in General Mills, Inc. (NYSE:GIS) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,478 shares of the company’s stock after acquiring an additional 4,499 shares during the period. RWA Wealth Partners LLC’s holdings in General Mills were worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GIS. Allianz SE acquired a new position in General Mills during the fourth quarter worth approximately $743,000. Cornercap Investment Counsel Inc. increased its holdings in shares of General Mills by 18.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 25,159 shares of the company’s stock worth $1,604,000 after acquiring an additional 3,931 shares during the last quarter. Biondo Investment Advisors LLC raised its stake in General Mills by 2.5% in the 4th quarter. Biondo Investment Advisors LLC now owns 127,452 shares of the company’s stock valued at $8,128,000 after acquiring an additional 3,161 shares during the period. Allstate Corp bought a new stake in General Mills in the 4th quarter valued at $1,071,000. Finally, Maridea Wealth Management LLC acquired a new stake in General Mills during the 4th quarter valued at $377,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of General Mills stock opened at $59.09 on Monday. The company has a 50 day moving average of $59.97 and a 200-day moving average of $64.61. The company has a market cap of $32.57 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $1.17 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal 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 issued 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 4.06%. General Mills’s dividend payout ratio (DPR) is currently 52.75%.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GIS. Morgan Stanley assumed coverage on shares of General Mills in a research report on Monday, March 24th. They issued an “underweight” rating and a $53.00 price objective on the stock. Mizuho lowered their price target on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Jefferies Financial Group boosted their price objective on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Bank of America dropped their price target on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.69.

General Mills 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.