General Mills, Inc. (NYSE:GIS) Shares Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,159 shares of the company’s stock after buying an additional 3,931 shares during the period. Cornercap Investment Counsel Inc.’s holdings in General Mills were worth $1,604,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GIS. Endeavor Private Wealth Inc. acquired a new stake in General Mills in the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Mills during the 4th quarter worth approximately $31,000. VSM Wealth Advisory LLC acquired a new position in shares of General Mills during the 4th quarter worth approximately $32,000. Finally, Bank of Jackson Hole Trust acquired a new stake in General Mills during the 4th quarter valued at $34,000. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 1.0 %

Shares of NYSE GIS opened at $59.09 on Friday. The firm has a market cap of $32.57 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock’s 50-day simple moving average is $59.97 and its 200-day simple moving average is $64.74.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion during 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 business’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.75%.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred 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 owns 353,346 shares of the company’s stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GIS. Mizuho reduced 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. Jefferies Financial Group boosted their price target on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Wells Fargo & Company decreased their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Barclays decreased their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Finally, 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 report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.