PSI Advisors LLC Acquires 501 Shares of General Mills, Inc. (NYSE:GIS)

PSI Advisors LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 48.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,533 shares of the company’s stock after purchasing an additional 501 shares during the quarter. PSI Advisors LLC’s holdings in General Mills were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GIS. Moneta Group Investment Advisors LLC raised its holdings in shares of General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after purchasing an additional 11,067,051 shares in the last quarter. Norges Bank bought a new position in shares of General Mills during the 4th quarter valued at $382,081,000. Price T Rowe Associates Inc. MD raised its holdings in shares of General Mills by 101.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after purchasing an additional 3,496,741 shares in the last quarter. Nordea Investment Management AB raised its holdings in General Mills by 48.7% in the 3rd quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock worth $325,728,000 after acquiring an additional 1,654,111 shares during the period. Finally, Morgan Stanley raised its holdings in General Mills by 14.6% in the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock worth $691,725,000 after acquiring an additional 1,051,169 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GIS shares. Stifel Nicolaus lifted their target price on shares of General Mills from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. TD Cowen lifted their target price on shares of General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Bank of America lifted their target price on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Barclays lifted their target price on shares of General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Finally, HSBC lifted their target price on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $72.18.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at approximately $20,523,044.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Mills news, insider Jonathon Nudi sold 7,671 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the transaction, the insider now directly owns 102,924 shares in the company, valued at $6,602,574.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,782 shares of company stock worth $5,057,820. Corporate insiders own 0.24% of the company’s stock.

General Mills Price Performance

Shares of General Mills stock opened at $70.44 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The firm’s 50-day simple moving average is $66.85 and its 200-day simple moving average is $65.33. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $90.89. The firm has a market cap of $40.00 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 2.43 and a beta of 0.15.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm’s revenue was down .5% on a year-over-year basis. As a group, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.35%. General Mills’s dividend payout ratio (DPR) is currently 54.13%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.