237,286 Shares in General Mills, Inc. $GIS Bought by Moran Wealth Management LLC

Key Points

• Moran Wealth Management established a new position of 237,286 shares in General Mills during Q4, valued at about $11.03 million, with institutional investors now owning roughly 75.7% of the stock.
• Several analysts have cut price targets recently and MarketBeat shows a consensus rating of "Reduce" with a consensus price target of $43.44.
• General Mills missed quarterly estimates (EPS $0.64 vs. $0.73 and revenue $4.44B vs. $4.53B) and declared a quarterly dividend of $0.61 (annualized $2.44), implying a 6.9% yield.

Moran Wealth Management LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 237,286 shares of the company's stock, valued at approximately $11,034,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in General Mills during the 2nd quarter valued at approximately $9,188,000. Bank of Nova Scotia lifted its position in shares of General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd lifted its position in shares of General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock worth $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of General Mills by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock valued at $4,250,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock valued at $1,012,000 after purchasing an additional 15,041 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of General Mills from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, March 19th. The Goldman Sachs Group cut their price target on shares of General Mills from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, March 19th. Zacks Research lowered General Mills from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. TD Cowen dropped their price objective on General Mills from $45.00 to $37.00 and set a "hold" rating on the stock in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Mills from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $43.44.

General Mills Trading Up 0.6%

GIS opened at $35.53 on Friday. The company has a fifty day moving average price of $40.79 and a two-hundred day moving average price of $44.76. General Mills, Inc. has a 1-year low of $34.04 and a 1-year high of $58.45. The company has a market cap of $18.96 billion, a P/E ratio of 8.69 and a beta of 0.01. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.09). The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.General Mills's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.12 EPS. Analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $0.61 dividend. The ex-dividend date is Friday, April 10th. This represents a $2.44 annualized dividend and a yield of 6.9%. General Mills's dividend payout ratio is presently 59.66%.

General Mills Profile

General Mills, Inc NYSE: GIS is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

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