LPL Financial LLC Grows Stock Holdings in General Mills, Inc. (NYSE:GIS)

LPL Financial LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 808,678 shares of the company’s stock after purchasing an additional 20,734 shares during the period. LPL Financial LLC owned about 0.15% of General Mills worth $51,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC grew its position in General Mills by 15.9% during the third quarter. Fisher Asset Management LLC now owns 187,256 shares of the company’s stock valued at $13,829,000 after acquiring an additional 25,752 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of General Mills in the 3rd quarter valued at $355,000. Townsquare Capital LLC grew its holdings in shares of General Mills by 4.0% during the 3rd quarter. Townsquare Capital LLC now owns 60,018 shares of the company’s stock valued at $4,432,000 after purchasing an additional 2,290 shares during the last quarter. CreativeOne Wealth LLC raised its position in General Mills by 80.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 13,362 shares of the company’s stock worth $987,000 after purchasing an additional 5,955 shares during the period. Finally, Providence Capital Advisors LLC lifted its stake in General Mills by 1.0% in the third quarter. Providence Capital Advisors LLC now owns 38,641 shares of the company’s stock worth $2,854,000 after purchasing an additional 377 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

General Mills stock opened at $59.65 on Friday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. 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 market capitalization of $32.88 billion, a P/E ratio of 12.97, a PEG ratio of 1.94 and a beta of 0.06. The stock’s 50 day moving average is $59.98 and its 200 day moving average is $64.86.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills’s dividend payout ratio is currently 52.75%.

Insiders Place Their Bets

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 stock was 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 approximately $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of several analyst reports. Barclays decreased their price objective on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Mizuho decreased their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, TD Cowen dropped their price target 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 issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.69.

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.