Cibc World Markets Corp Purchases 28,020 Shares of General Mills, Inc. (NYSE:GIS)

Cibc World Markets Corp grew its position in shares of General Mills, Inc. (NYSE:GIS) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,781 shares of the company’s stock after buying an additional 28,020 shares during the period. Cibc World Markets Corp’s holdings in General Mills were worth $13,888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SlateStone Wealth LLC raised its stake in General Mills by 4.4% in the 4th quarter. SlateStone Wealth LLC now owns 11,305 shares of the company’s stock worth $721,000 after purchasing an additional 478 shares in the last quarter. Signature Wealth Management Group increased its holdings in shares of General Mills by 2.7% during the fourth quarter. Signature Wealth Management Group now owns 47,775 shares of the company’s stock worth $3,047,000 after purchasing an additional 1,255 shares during the period. GWN Securities Inc. acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $213,000. Corient Private Wealth LLC boosted its stake in shares of General Mills by 0.3% in the fourth quarter. Corient Private Wealth LLC now owns 274,790 shares of the company’s stock valued at $17,524,000 after buying an additional 830 shares during the period. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in General Mills during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the subject of several analyst reports. Jefferies Financial Group lifted their price objective on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Stifel Nicolaus reduced their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. 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. Finally, 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 Monday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.71.

General Mills Stock Performance

General Mills stock opened at $61.01 on Tuesday. The business has a 50 day moving average of $60.09 and a 200-day moving average of $65.55. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a market capitalization of $33.63 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.94 and a beta of 0.06.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.93%. General Mills’s dividend payout ratio (DPR) is 52.17%.

Insider Transactions at General Mills

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