Evoke Wealth LLC Acquires 299 Shares of General Mills, Inc. (NYSE:GIS)

Evoke Wealth LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,484 shares of the company’s stock after purchasing an additional 299 shares during the period. Evoke Wealth LLC’s holdings in General Mills were worth $477,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GIS. Oppenheimer Asset Management Inc. bought a new position in shares of General Mills during the 3rd quarter valued at about $243,000. OneDigital Investment Advisors LLC raised its position in General Mills by 9.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,186 shares of the company’s stock valued at $752,000 after buying an additional 838 shares during the last quarter. Natixis Advisors LLC raised its position in General Mills by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 130,210 shares of the company’s stock valued at $9,616,000 after buying an additional 1,758 shares during the last quarter. Claro Advisors LLC raised its position in General Mills by 44.8% in the 3rd quarter. Claro Advisors LLC now owns 5,901 shares of the company’s stock valued at $436,000 after buying an additional 1,825 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in General Mills by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock valued at $3,325,000 after buying an additional 2,907 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GIS. Citigroup dropped their target price on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company dropped their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their target price on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Bank of America dropped their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Mizuho dropped their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $67.53.

General Mills Stock Down 1.0 %

GIS stock opened at $60.33 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $33.25 billion, a PE ratio of 13.11, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The business’s 50 day simple moving average is $60.08 and its 200 day simple moving average is $65.47.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. As a group, research analysts anticipate that General Mills, Inc. will post 4.36 EPS 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is presently 52.17%.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

General Mills Company 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.