K.J. Harrison & Partners Inc Invests $762,000 in General Mills, Inc. (NYSE:GIS)

K.J. Harrison & Partners Inc acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,000 shares of the company’s stock, valued at approximately $762,000.

Other hedge funds also recently bought and sold shares of the company. Endeavor Private Wealth Inc. bought a new position in General Mills in the 4th quarter valued at $26,000. Bank of Jackson Hole Trust bought a new stake in General Mills during the fourth quarter valued at $34,000. Planning Capital Management Corp boosted its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. Heck Capital Advisors LLC purchased a new position in General Mills during the fourth quarter worth about $38,000. Finally, Capital Advisors Ltd. LLC increased its stake in General Mills by 150.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 653 shares of the company’s stock worth $42,000 after acquiring an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. Barclays cut their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. TD Cowen lowered their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced 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. 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’s stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $69.06.

General Mills Stock Performance

NYSE:GIS opened at $59.28 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The firm has a market cap of $32.68 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The business has a 50 day moving average price of $60.63 and a 200-day moving average price of $66.38.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 EPS. Equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. General Mills’s payout ratio is presently 52.17%.

Insider Activity at General Mills

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 transaction of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.26% of the stock is owned by company 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 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.