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

Spire Wealth Management raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 374.7% in 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 quarter. Spire Wealth Management’s holdings in General Mills were worth $7,023,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. boosted its holdings in shares of General Mills by 3.0% in the third quarter. Stratos Wealth Partners LTD. now owns 21,379 shares of the company’s stock valued at $1,368,000 after purchasing an additional 629 shares during the period. Bailard Inc. increased its stake in shares of General Mills by 2.5% during the third quarter. Bailard Inc. now owns 8,512 shares of the company’s stock valued at $545,000 after buying an additional 205 shares during the period. Chicago Capital LLC raised its holdings in shares of General Mills by 4.6% in the third quarter. Chicago Capital LLC now owns 9,112 shares of the company’s stock valued at $583,000 after acquiring an additional 400 shares in the last quarter. JB Capital LLC lifted its stake in General Mills by 5.7% in the third quarter. JB Capital LLC now owns 6,916 shares of the company’s stock worth $443,000 after acquiring an additional 376 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in General Mills by 13.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 485,976 shares of the company’s stock worth $31,098,000 after acquiring an additional 57,093 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GIS shares. Bank of America lifted their price objective on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Barclays boosted their target price on shares of General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Wells Fargo & Company boosted their price objective 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. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $72.00 price objective on shares of General Mills in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average price target of $72.18.

General Mills Stock Performance

GIS stock traded up $0.76 during trading on Tuesday, hitting $69.90. 199,326 shares of the company traded hands, compared to its average volume of 4,158,499. 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, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The stock’s 50-day simple moving average is $68.24 and its 200 day simple moving average is $65.93. The company has a market cap of $39.70 billion, a PE ratio of 15.86, a P/E/G ratio of 2.41 and a beta of 0.15.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the previous year, the business posted $0.97 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

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.