Biondo Investment Advisors LLC Acquires 3,161 Shares of General Mills, Inc. (NYSE:GIS)

Biondo Investment Advisors LLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 127,452 shares of the company’s stock after purchasing an additional 3,161 shares during the quarter. Biondo Investment Advisors LLC’s holdings in General Mills were worth $8,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Endeavor Private Wealth Inc. bought a new stake in shares of General Mills in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Mills during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills in the fourth quarter worth $31,000. VSM Wealth Advisory LLC purchased a new position in General Mills during the fourth quarter worth $32,000. Finally, Bank of Jackson Hole Trust bought a new position in General Mills during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GIS shares. Piper Sandler dropped their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Citigroup cut their target price 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. Stifel Nicolaus decreased their price target on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Mizuho cut their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average price target of $65.69.

General Mills Stock Down 1.0 %

General Mills stock opened at $59.09 on Friday. 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 firm has a market cap of $32.57 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.94 and a beta of 0.06. The business has a fifty day moving average of $59.97 and a two-hundred day moving average of $64.74. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data 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. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the business posted $1.17 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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 paid 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 4.06%. General Mills’s dividend payout ratio (DPR) is 52.75%.

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.