Spire Wealth Management Purchases 87,781 Shares of General Mills, Inc. (NYSE:GIS)

Spire Wealth Management lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 374.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,209 shares of the company’s stock after purchasing an additional 87,781 shares during the period. Spire Wealth Management’s holdings in General Mills were worth $7,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Trust Company N.A acquired a new position in General Mills in the 4th quarter valued at approximately $50,000. Bruce G. Allen Investments LLC acquired a new stake in General Mills in the fourth quarter valued at $28,000. Sabal Trust CO raised its position in General Mills by 7,817.6% during the 4th quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock worth $18,902,000 after purchasing an additional 286,514 shares during the last quarter. Welch Group LLC lifted its holdings in General Mills by 2.8% during the 4th quarter. Welch Group LLC now owns 615,389 shares of the company’s stock worth $40,086,000 after buying an additional 16,883 shares during the period. Finally, Gradient Investments LLC grew its position in shares of General Mills by 29.9% in the 4th quarter. Gradient Investments LLC now owns 2,238 shares of the company’s stock valued at $146,000 after buying an additional 515 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Activity at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the transaction, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by company insiders.

General Mills Stock Performance

Shares of NYSE GIS traded up $0.76 during midday trading on Tuesday, reaching $69.90. The company’s stock had a trading volume of 199,326 shares, compared to its average volume of 4,158,499. The stock has a market capitalization of $39.70 billion, a P/E ratio of 15.86, a PEG ratio of 2.41 and a beta of 0.15. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a 50 day moving average price of $68.24 and a 200-day moving average price of $65.93. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $90.89.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GIS shares. Citigroup assumed coverage on General Mills in a research note on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Wells Fargo & Company lifted their target price on shares of General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $72.00 price target on shares of General Mills in a research report on Thursday, March 21st. Finally, TD Cowen increased their price target on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus target price 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.