Vestmark Advisory Solutions Inc. Grows Position in General Mills, Inc. (NYSE:GIS)

Posted by Defense World Staff on Apr 2nd, 2023

Vestmark Advisory Solutions Inc. increased its position in General Mills, Inc. (NYSE:GIS – Get Rating) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,332 shares of the company’s stock after purchasing an additional 566 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in General Mills were worth $1,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Geneva Partners LLC increased its stake in shares of General Mills by 2.0% during the third quarter. Geneva Partners LLC now owns 6,579 shares of the company’s stock valued at $504,000 after purchasing an additional 126 shares in the last quarter. Pinnacle Financial Partners Inc. increased its position in General Mills by 0.5% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 27,800 shares of the company’s stock valued at $2,129,000 after buying an additional 129 shares in the last quarter. Physicians Financial Services Inc. raised its stake in General Mills by 1.0% during the second quarter. Physicians Financial Services Inc. now owns 13,353 shares of the company’s stock valued at $1,007,000 after buying an additional 131 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in General Mills by 1.6% in the third quarter. Archford Capital Strategies LLC now owns 8,212 shares of the company’s stock worth $629,000 after acquiring an additional 132 shares in the last quarter. Finally, West Coast Financial LLC boosted its holdings in General Mills by 3.5% in the third quarter. West Coast Financial LLC now owns 3,954 shares of the company’s stock worth $303,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 74.48% of the company’s stock.

General Mills Price Performance

NYSE GIS opened at $85.46 on Friday. The company has a market capitalization of $50.20 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.67 and a beta of 0.28. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.32 and a current ratio of 0.54. The business’s fifty day moving average is $79.15 and its 200 day moving average is $80.41. General Mills, Inc. has a fifty-two week low of $64.94 and a fifty-two week high of $88.34.

General Mills (NYSE:GIS – Get Rating) last released its earnings results on Thursday, March 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $4.97 billion. General Mills had a return on equity of 24.51% and a net margin of 14.04%. General Mills’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 4.24 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, April 6th. This represents a $2.16 annualized dividend and a yield of 2.53%. General Mills’s dividend payout ratio (DPR) is presently 46.65%.

Analyst Ratings Changes

Several research firms have recently issued reports on GIS. Wells Fargo & Company lifted their price target on General Mills from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Friday, March 24th. Piper Sandler lifted their target price on shares of General Mills from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, December 15th. UBS Group increased their price target on shares of General Mills from $88.00 to $96.00 in a report on Monday, March 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Mills from $84.00 to $86.00 in a report on Friday, March 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $76.00 target price on shares of General Mills in a research note on Friday, March 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.88.

Insider Buying and Selling at General Mills

In other General Mills news, insider Sean N. Walker sold 27,157 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $84.87, for a total transaction of $2,304,814.59. Following the sale, the insider now directly owns 90,975 shares of the company’s stock, valued at $7,721,048.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other General Mills news, insider Sean N. Walker sold 27,157 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $84.87, for a total transaction of $2,304,814.59. Following the sale, the insider now directly owns 90,975 shares of the company’s stock, valued at $7,721,048.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the chief accounting officer now directly owns 17,146 shares in the company, valued at $1,474,384.54. The disclosure for this sale can be found here. Insiders have sold a total of 48,036 shares of company stock valued at $4,078,559 over the last ninety days. 0.67% of the stock is currently owned by company insiders.

General Mills Company Profile

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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.