PSI Advisors LLC Grows Holdings in General Mills, Inc. (NYSE:GIS)

PSI Advisors LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 38.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,429 shares of the company’s stock after purchasing an additional 394 shares during the period. PSI Advisors LLC’s holdings in General Mills were worth $91,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Values First Advisors Inc. bought a new position in shares of General Mills in the third quarter valued at approximately $27,000. Planning Capital Management Corp lifted its holdings in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the period. Fairscale Capital LLC purchased a new position in General Mills in the second quarter worth $42,000. Catalyst Capital Advisors LLC purchased a new position in General Mills in the third quarter worth $44,000. Finally, Rise Advisors LLC grew its stake in General Mills by 46.7% in the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,541 shares of company stock worth $3,321,170 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on GIS. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and increased their target price for the company from $78.00 to $80.00 in a research report on Friday, December 13th. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.31.

General Mills Stock Down 0.9 %

GIS stock opened at $58.82 on Wednesday. The stock has a 50-day simple moving average of $64.15 and a two-hundred day simple moving average of $67.64. General Mills, Inc. has a twelve month low of $58.27 and a twelve month high of $75.90. The firm has a market capitalization of $32.42 billion, a PE ratio of 14.00, a PEG ratio of 3.47 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. General Mills’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio is 52.17%.

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.