Drive Wealth Management LLC Purchases New Holdings in General Mills, Inc. (NYSE:GIS)

Drive Wealth Management LLC purchased a new stake in shares of General Mills, Inc. (NYSE:GISFree Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,926 shares of the company’s stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GIS. Moneta Group Investment Advisors LLC increased its position in General Mills by 123,599.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after buying an additional 11,067,051 shares during the last quarter. Norges Bank purchased a new stake in General Mills in the fourth quarter worth $382,081,000. Price T Rowe Associates Inc. MD increased its position in General Mills by 101.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after buying an additional 3,496,741 shares during the last quarter. Nordea Investment Management AB increased its position 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 buying an additional 1,654,111 shares during the last quarter. Finally, Morgan Stanley increased its position in General Mills by 14.6% in the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock worth $691,725,000 after buying an additional 1,051,169 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup began coverage on General Mills in a research report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 target price for the company. TD Cowen raised their price target on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Wells Fargo & Company raised their price target on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Barclays raised their price target on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $72.00 price target on shares of General Mills in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.18.

View Our Latest Analysis on General Mills

General Mills Price Performance

NYSE:GIS opened at $70.57 on Wednesday. The firm has a market capitalization of $40.08 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 2.42 and a beta of 0.15. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89. The stock has a fifty day moving average of $65.55 and a 200 day moving average of $64.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GISGet Free Report) last released its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.34%. General Mills’s dividend payout ratio is currently 54.13%.

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the transaction, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jonathon Nudi sold 7,671 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the transaction, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,782 shares of company stock worth $5,057,820. Company insiders own 0.24% of the company’s stock.

About General Mills

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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