Wealth Group Ltd Sells 354 Shares of General Mills, Inc. (NYSE:GIS)

Wealth Group Ltd lessened its stake in General Mills, Inc. (NYSE:GISFree Report) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,141 shares of the company’s stock after selling 354 shares during the quarter. Wealth Group Ltd’s holdings in General Mills were worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. lifted its stake in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Legal & General Group Plc grew its holdings in General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

Shares of NYSE GIS traded up $0.01 during trading hours on Wednesday, hitting $60.90. 5,360,456 shares of the stock were exchanged, compared to its average volume of 4,272,290. The company’s fifty day simple moving average is $65.00 and its two-hundred day simple moving average is $67.84. The company has a market cap of $33.57 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a 1-year low of $59.70 and a 1-year high of $75.90.

General Mills (NYSE:GISGet Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the company posted $1.25 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.94%. General Mills’s payout ratio is presently 52.17%.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,624 shares of company stock worth $3,897,326. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Citigroup cut their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and upped their price objective for the company from $78.00 to $80.00 in a report on Friday, December 13th. TD Cowen cut their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.31.

Read Our Latest Analysis on GIS

General Mills Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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