Forum Financial Management LP Buys 2,729 Shares of General Mills, Inc. (NYSE:GIS)

Forum Financial Management LP lifted its stake in General Mills, Inc. (NYSE:GIS) by 44.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,832 shares of the company’s stock after buying an additional 2,729 shares during the period. Forum Financial Management LP’s holdings in General Mills were worth $563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted its holdings in General Mills by 15.6% during the fourth quarter. GeoWealth Management LLC now owns 8,006 shares of the company’s stock valued at $511,000 after purchasing an additional 1,080 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in General Mills by 17.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 714,093 shares of the company’s stock valued at $45,502,000 after purchasing an additional 104,366 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in General Mills by 1,096.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company’s stock worth $39,000 after purchasing an additional 548 shares in the last quarter. Capital Square LLC increased its stake in shares of General Mills by 4.4% in the fourth quarter. Capital Square LLC now owns 7,267 shares of the company’s stock valued at $439,000 after buying an additional 308 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in General Mills by 8.2% during the 4th quarter. NewEdge Advisors LLC now owns 39,429 shares of the company’s stock worth $2,514,000 after buying an additional 2,983 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GIS shares. Morgan Stanley started coverage on shares of General Mills in a research report on Monday, March 24th. They set an “underweight” rating and a $53.00 target price on the stock. Wells Fargo & Company lowered their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group lifted their price objective on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.69.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

General Mills Stock Performance

Shares of GIS opened at $57.52 on Friday. The firm’s 50 day moving average price is $59.48 and its two-hundred day moving average price is $62.87. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The firm has a market cap of $31.71 billion, a P/E ratio of 12.50, a PEG ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The firm 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 company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. On average, analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.17%. General Mills’s dividend payout ratio is currently 52.75%.

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.