Moran Wealth Management LLC Acquires Shares of 117,056 General Mills, Inc. (NYSE:GIS)

Moran Wealth Management LLC bought a new position in General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 117,056 shares of the company’s stock, valued at approximately $7,465,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Endeavor Private Wealth Inc. purchased a new stake in General Mills during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Mills during the fourth quarter valued at about $31,000. Bank of Jackson Hole Trust purchased a new stake in shares of General Mills during the fourth quarter worth about $34,000. Planning Capital Management Corp boosted its holdings in shares of General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Mills in the fourth quarter worth about $38,000. Institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction 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 owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GIS. Citigroup dropped their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. TD Cowen decreased their price objective 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. Barclays cut their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Piper Sandler decreased their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price objective 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.65.

General Mills Trading Up 1.0 %

General Mills stock opened at $65.15 on Tuesday. The firm has a 50 day moving average of $60.37 and a 200 day moving average of $65.93. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $35.91 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (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 business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $1.25 EPS. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 yield of 3.68%. General Mills’s dividend payout ratio is presently 52.17%.

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.