Fiduciary Alliance LLC Has $979,000 Holdings in General Mills, Inc. (NYSE:GIS)

Fiduciary Alliance LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 44.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,358 shares of the company’s stock after purchasing an additional 4,708 shares during the period. Fiduciary Alliance LLC’s holdings in General Mills were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB boosted its position in General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after buying an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the period. State Street Corp boosted its holdings in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the last quarter. Wulff Hansen & CO. increased its position in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in General Mills by 6,114.0% during the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after purchasing an additional 443,202 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

GIS opened at $59.38 on Tuesday. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 3.47 and a beta of 0.11. The business’s 50-day moving average price is $64.34 and its two-hundred day moving average price is $67.67. General Mills, Inc. has a 1 year low of $58.27 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm earned $1.25 EPS. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GIS shares. Barclays lowered their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Piper Sandler lifted their target price 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. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, TD Cowen decreased their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $71.31.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction 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 owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,541 shares of company stock valued at $3,321,170. Corporate insiders own 0.26% of the company’s stock.

General Mills Company 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.