Clean Yield Group Cuts Stake in General Mills, Inc. (NYSE:GIS)

Clean Yield Group cut its holdings in General Mills, Inc. (NYSE:GIS) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,130 shares of the company’s stock after selling 767 shares during the quarter. Clean Yield Group’s holdings in General Mills were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in GIS. Forza Wealth Management LLC lifted its stake in shares of General Mills by 4.4% in the 4th quarter. Forza Wealth Management LLC now owns 11,368 shares of the company’s stock valued at $725,000 after purchasing an additional 481 shares during the period. Bridge Creek Capital Management LLC grew its holdings in General Mills by 0.3% in the fourth quarter. Bridge Creek Capital Management LLC now owns 72,810 shares of the company’s stock worth $4,643,000 after purchasing an additional 235 shares during the period. Brookstone Capital Management increased its holdings in shares of General Mills by 31.0% during the fourth quarter. Brookstone Capital Management now owns 19,950 shares of the company’s stock valued at $1,272,000 after acquiring an additional 4,716 shares in the last quarter. City State Bank grew its position in General Mills by 36.8% during the 4th quarter. City State Bank now owns 2,842 shares of the company’s stock valued at $181,000 after purchasing an additional 765 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its holdings in shares of General Mills by 44.2% in the 4th quarter. Fiduciary Alliance LLC now owns 15,358 shares of the company’s stock worth $979,000 after purchasing an additional 4,708 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price 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. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Stifel Nicolaus decreased their target price on General Mills from $82.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays decreased their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price target on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. 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 stock. According to MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average target price of $71.31.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 355,328 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,624 shares of company stock worth $3,897,326. Insiders own 0.26% of the company’s stock.

General Mills Stock Up 1.6 %

Shares of NYSE GIS traded up $0.94 during midday trading on Monday, reaching $59.44. 3,283,688 shares of the company’s stock traded hands, compared to its average volume of 4,330,891. The stock’s 50 day simple moving average is $64.51 and its 200-day simple moving average is $67.70. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The company has a market cap of $32.77 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 3.47 and a beta of 0.11. General Mills, Inc. has a one year low of $58.27 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate 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 net margin of 12.14% and a return on equity of 26.85%. General Mills’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. On average, analysts predict that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Friday, January 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.