Pinnacle Wealth Management Advisory Group LLC Increases Stake in General Mills, Inc. (NYSE:GIS)

Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,428 shares of the company’s stock after acquiring an additional 2,259 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in General Mills were worth $2,004,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after acquiring an additional 43,086 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. J2 Capital Management Inc purchased a new position in shares of General Mills during the 4th quarter worth about $547,000. Crossmark Global Holdings Inc. lifted its holdings in shares of General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after acquiring an additional 104,436 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. Barclays dropped their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $71.13.

General Mills Stock Down 1.2 %

Shares of NYSE:GIS opened at $58.85 on Friday. The company has a market capitalization of $32.44 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average of $61.61 and a two-hundred day moving average of $66.88. General Mills, Inc. has a 52-week low of $57.85 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. As a group, analysts forecast that General Mills, Inc. will post 4.4 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm 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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.