Convergence Financial LLC Purchases 578 Shares of General Mills, Inc. (NYSE:GIS)

Convergence Financial LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,318 shares of the company’s stock after acquiring an additional 578 shares during the period. Convergence Financial LLC’s holdings in General Mills were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. bought a new stake in General Mills in the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust bought a new stake in shares of General Mills during the fourth quarter valued at about $34,000. Planning Capital Management Corp increased its position in shares of General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of General Mills during the fourth quarter valued at about $38,000. Finally, Capital Advisors Ltd. LLC increased its position in shares of General Mills by 150.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 653 shares of the company’s stock valued at $42,000 after buying an additional 392 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus decreased their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Citigroup decreased their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Mizuho decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Bank of America decreased their price objective on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 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. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $69.06.

General Mills Stock Down 3.8 %

Shares of GIS opened at $59.28 on Thursday. The firm has a market cap of $32.68 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.94 and a beta of 0.10. The stock has a 50 day simple moving average of $60.63 and a two-hundred day simple moving average of $66.38. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

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.