Foundations Investment Advisors LLC Grows Stock Holdings in General Mills, Inc. (NYSE:GIS)

Posted by on Mar 20th, 2023

Foundations Investment Advisors LLC raised its holdings in shares of General Mills, Inc. (NYSE:GIS – Get Rating) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,321 shares of the company’s stock after buying an additional 1,401 shares during the period. Foundations Investment Advisors LLC’s holdings in General Mills were worth $698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Romano Brothers AND Company purchased a new stake in General Mills during the third quarter valued at approximately $707,000. M&G Investment Management Ltd. purchased a new stake in shares of General Mills in the third quarter worth $227,000. Trilogy Capital Inc. increased its stake in shares of General Mills by 11.3% in the third quarter. Trilogy Capital Inc. now owns 2,967 shares of the company’s stock worth $227,000 after purchasing an additional 302 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of General Mills by 3.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 34,035 shares of the company’s stock worth $2,568,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in shares of General Mills by 19.7% in the second quarter. Checchi Capital Advisers LLC now owns 6,801 shares of the company’s stock worth $509,000 after purchasing an additional 1,120 shares in the last quarter. 74.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GIS shares. UBS Group upgraded shares of General Mills from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $88.00 in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft lowered shares of General Mills from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research report on Tuesday, December 6th. Credit Suisse Group upped their target price on shares of General Mills from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 21st. Stifel Nicolaus upped their target price on shares of General Mills from $82.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, February 22nd. Finally, StockNews.com started coverage on shares of General Mills in a research report on Thursday. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $82.94.

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 10,894 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $84.49, for a total value of $920,434.06. Following the completion of the sale, the insider now owns 82,784 shares in the company, valued at approximately $6,994,420.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Mark A. Pallot sold 1,955 shares of the firm’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $85.99, for a total value of $168,110.45. Following the transaction, the chief accounting officer now owns 17,146 shares of the company’s stock, valued at approximately $1,474,384.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 10,894 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $84.49, for a total transaction of $920,434.06. Following the completion of the transaction, the insider now directly owns 82,784 shares in the company, valued at approximately $6,994,420.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,006 shares of company stock worth $3,393,359. 0.67% of the stock is currently owned by insiders.

General Mills Price Performance

General Mills stock opened at $79.79 on Monday. The firm has a 50-day moving average price of $78.79 and a 200-day moving average price of $79.93. The firm has a market capitalization of $47.04 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28. The company has a current ratio of 0.58, a quick ratio of 0.35 and a debt-to-equity ratio of 0.83. General Mills, Inc. has a 12-month low of $61.67 and a 12-month high of $88.34.

General Mills (NYSE:GIS – Get Rating) last released its earnings results on Tuesday, December 20th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.04. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. General Mills had a net margin of 15.02% and a return on equity of 24.09%. As a group, equities research analysts forecast that General Mills, Inc. will post 4.18 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.54 dividend. The ex-dividend date is Thursday, April 6th. This represents a $2.16 annualized dividend and a dividend yield of 2.71%. General Mills’s dividend payout ratio (DPR) is presently 45.09%.

General Mills Company Profile

(Get Rating)

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

Featured Articles

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.