Miracle Mile Advisors LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

Miracle Mile Advisors LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,473 shares of the company’s stock, valued at approximately $668,000.

Several other hedge funds have also recently modified their holdings of GIS. Bar Harbor Wealth Management grew its stake in General Mills by 4.1% during the fourth quarter. Bar Harbor Wealth Management now owns 17,789 shares of the company’s stock valued at $1,134,000 after acquiring an additional 693 shares in the last quarter. Forza Wealth Management LLC boosted its holdings in shares of General Mills by 4.4% during the 4th quarter. Forza Wealth Management LLC now owns 11,368 shares of the company’s stock valued at $725,000 after purchasing an additional 481 shares during the last quarter. Bridge Creek Capital Management LLC grew its position in shares of General Mills by 0.3% during the fourth quarter. Bridge Creek Capital Management LLC now owns 72,810 shares of the company’s stock valued at $4,643,000 after purchasing an additional 235 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of General Mills by 31.0% in the fourth quarter. Brookstone Capital Management now owns 19,950 shares of the company’s stock worth $1,272,000 after purchasing an additional 4,716 shares during the last quarter. Finally, City State Bank lifted its position in shares of General Mills by 36.8% in the fourth quarter. City State Bank now owns 2,842 shares of the company’s stock worth $181,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $58.32 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average is $64.15 and its two-hundred day moving average is $67.64. General Mills, Inc. has a 52 week low of $58.20 and a 52 week high of $75.90. The company has a market capitalization of $32.15 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. General Mills’s payout ratio is 52.17%.

Analyst Ratings Changes

Several equities analysts have weighed in on GIS shares. Citigroup cut their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus cut their target price on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Barclays reduced their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One research 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 MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average target price of $71.31.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,541 shares of company stock valued at $3,321,170 over the last quarter. 0.26% of the stock is owned by corporate insiders.

About General Mills

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.