TrueMark Investments LLC Raises Position in General Mills, Inc. (NYSE:GIS)

TrueMark Investments LLC lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 413.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,561 shares of the company’s stock after acquiring an additional 28,638 shares during the quarter. TrueMark Investments LLC’s holdings in General Mills were worth $2,268,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC increased its position in General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after purchasing an additional 268 shares during the period. JPMorgan Chase & Co. raised its position in General Mills by 105.2% in the third 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 in the last quarter. J2 Capital Management Inc acquired a new stake in General Mills in the fourth quarter valued at $547,000. Daiwa Securities Group Inc. boosted its position in shares of General Mills by 7.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock worth $4,652,000 after purchasing an additional 4,839 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of General Mills by 15.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company’s stock worth $2,749,000 after purchasing an additional 5,853 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Mills 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 value of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GIS. Jefferies Financial Group increased their price target on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Barclays dropped their target price on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Citigroup decreased their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company dropped their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley assumed coverage on General Mills in a research report on Monday. They set an “underweight” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.69.

General Mills Stock Performance

Shares of GIS opened at $57.75 on Wednesday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company’s 50 day simple moving average is $59.95 and its 200 day simple moving average is $64.93. The company has a market capitalization of $31.83 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.94 and a beta of 0.06. 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 (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 EPS. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is 52.75%.

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.