Trueblood Wealth Management LLC Makes New $487,000 Investment in General Mills, Inc. (NYSE:GIS)

Trueblood Wealth Management LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,474 shares of the company’s stock, valued at approximately $487,000.

A number of other large investors also recently modified their holdings of the business. FWL Investment Management LLC acquired a new position in shares of General Mills during the fourth quarter valued at $25,000. Operose Advisors LLC raised its stake in shares of General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after buying an additional 274 shares during the last quarter. Intrepid Capital Management Inc. bought a new stake in shares of General Mills during the 2nd quarter valued at $28,000. Bruce G. Allen Investments LLC bought a new position in General Mills during the 4th quarter worth approximately $28,000. Finally, Almanack Investment Partners LLC. bought a new position in General Mills during the 3rd quarter worth about $28,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,782 shares of company stock worth $5,057,820. Company insiders own 0.24% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock traded up $0.31 during trading hours on Thursday, reaching $69.97. 5,823,651 shares of the company traded hands, compared to its average volume of 4,351,226. The firm has a 50-day moving average price of $65.01 and a 200 day moving average price of $64.79. The company has a market cap of $39.74 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.36 and a beta of 0.15. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $90.89. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. General Mills’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is presently 54.13%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GIS shares. TD Cowen boosted their price target on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Citigroup assumed coverage on shares of General Mills in a research note on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price target on the stock. Morgan Stanley lifted their price objective on shares of General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Piper Sandler dropped their price target on General Mills from $77.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, December 15th. Finally, HSBC increased their price target on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.18.

About General Mills

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.