General Mills, Inc. (NYSE:GIS) Stake Increased by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its stake in General Mills, Inc. (NYSE:GIS) by 489.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,778 shares of the company’s stock after buying an additional 24,727 shares during the period. RWA Wealth Partners LLC’s holdings in General Mills were worth $1,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in General Mills by 48.7% in the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock worth $325,728,000 after purchasing an additional 1,654,111 shares during the period. American Century Companies Inc. boosted its holdings in General Mills by 257.7% in the third quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after purchasing an additional 765,070 shares during the period. International Assets Investment Management LLC boosted its holdings in General Mills by 6,893.6% in the fourth quarter. International Assets Investment Management LLC now owns 512,139 shares of the company’s stock worth $33,361,000 after purchasing an additional 504,816 shares during the period. Canada Pension Plan Investment Board boosted its holdings in General Mills by 55.9% in the third quarter. Canada Pension Plan Investment Board now owns 1,141,913 shares of the company’s stock worth $73,071,000 after purchasing an additional 409,588 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in General Mills by 40.7% in the third quarter. HighTower Advisors LLC now owns 1,315,744 shares of the company’s stock worth $84,207,000 after purchasing an additional 380,855 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of General Mills stock opened at $70.82 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The company’s 50-day moving average price is $67.17 and its two-hundred day moving average price is $65.45. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $90.89. The stock has a market cap of $40.22 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.15.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the previous year, the business earned $0.97 earnings per share. General Mills’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is presently 54.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of General Mills in a report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target for the company. TD Cowen boosted their price target on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Barclays boosted their price target on shares of General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Bank of America boosted their price target on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $77.00 price target on shares of General Mills in a report on Monday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.18.

Insiders Place Their Bets

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the sale, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 17,726 shares of company stock worth $1,187,811. 0.24% of the stock is owned by corporate insiders.

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