Convergence Financial LLC Increases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Convergence Financial LLC increased its holdings in General Mills, Inc. (NYSE:GIS) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,318 shares of the company’s stock after acquiring an additional 578 shares during the period. Convergence Financial LLC’s holdings in General Mills were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Impact Investors Inc purchased a new stake in General Mills in the fourth quarter worth $358,000. Sabal Trust CO raised its holdings in General Mills by 1.6% in the fourth quarter. Sabal Trust CO now owns 312,565 shares of the company’s stock worth $19,932,000 after purchasing an additional 4,787 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in General Mills by 17.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,602 shares of the company’s stock worth $357,000 after purchasing an additional 844 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in General Mills by 32.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 25,566 shares of the company’s stock worth $1,630,000 after purchasing an additional 6,203 shares in the last quarter. Finally, Vaughan David Investments LLC IL raised its holdings in General Mills by 1.3% in the fourth quarter. Vaughan David Investments LLC IL now owns 533,322 shares of the company’s stock worth $34,010,000 after purchasing an additional 7,020 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

GIS has been the subject of a number of research reports. Bank of America decreased their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Mizuho decreased their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Barclays decreased their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus price target of $69.06.

General Mills Trading Down 3.8 %

General Mills stock opened at $59.28 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The stock has a market capitalization of $32.68 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The business’s fifty day moving average is $60.63 and its 200 day moving average is $66.38.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 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 up 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.05%. General Mills’s payout ratio is 52.17%.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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.